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Swissborg

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Swissborg
Company typePrivate
IndustryBlockchain
Founded2017
FoundersCyrus Fazel (CEO) and Anthony Lesoismier (CSO)
HeadquartersLausanne, Switzerland
Number of employees
Less than 200
Websitehttp://swissborg.com/

Swissborg is a Swiss-based fintech platform that offers financial services, including wealth management, trading, and a native token called CHSB. The company provides decentralization and traditional financial assets through its mobile app and smart investment tool. The company is headquartered in Switzerland and has offices in Lisbon and Tallinn.

History

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Swissborg was founded by Cyrus Fazel and Anthony Lesoismier in 2017 in Lausanne.[1]

In 2017, Swissborg raised over $50 million. In 2018, Swissborg held one of the first on-chain referendums on Ethereum, with 25,000 participants. A second referendum allowed community members to vote on the sector they would first like to engage in an ICO mentoring program.[2][3]

From 2018 to 2023, the company grew from a dozen experts to more than 200.[4][5][6]

In April 2020, Swissborg launched the Swissborg Wealth app, a wealth management app that enables the buying, storing, and/or trading of blockchain-based digital assets.[7] It integrates advanced AI-driven asset analysis and Portfolio Analytics to guide users in their investment decisions.[8] The Swissborg app includes a Smart Engine that analyzes hundreds of trading pairs to find the best trade whether you buy or sell in your local currency.[9]

In August 2020, Swissborg partnered with Onfido to verify applicant identities for its wealth management platform.[10]

In 2020, the company became a Venture Leader Fintech 2020.[11]

In March 2021, more than 280,000 people used the Swissborg app, and the company had US$1 billion of assets under custody.[12] At the same time, a specialized wallet known as the Smart Yield Wallet was launched. This wallet is designed not only for users to store their digital coins but also provides an opportunity for them to gain yields, potentially as high as 20% in USDC. Furthermore, the wallet enhances the staking utility of the token by granting Premium account holders the potential to earn double the regular yield.[13][14] It is now called Swissborg Earn.[15]

In May 2021, the platform collaborated with OpenPayd, a Payments and Banking-as-a-Service (BaaS) platform. This partnership allows Swissborg to integrate a comprehensive range of financial services.[16][17]

In December 2017 and January 2018, SwissBorg's ICO raised $53 million from 24,000 people in more than 149 countries.[18]

In October 2022, Swissborg launched Thematics, a bundle of assets grouped around a specific topic. Swissborg Thematics provides a method for diversification by grouping assets based on particular themes. The product is designed for a broad range of investors and emphasizes security, automation, and rebalancing, potentially reducing the need for continuous oversight and research.[19]

On November 28, 2022, Swissborg launched in the UAE. The app aims to facilitate investments for a broad user base.[20][21]

In April 2023, Swissborg concluded a €24 million Series A fundraising, breaking records in community-driven capital raising. The round sold 13,651,189 shares to 16,841 investors, achieving a valuation of roughly €200 million Swiss Francs.[22][23]

In July 2023, the platform released Golden Thematics, which provides access to Gold through Tether Gold (XAUT), a digital token backed by physical gold.[24] The Golden Thematic strategy aims to leverage potential upward price movements of Bitcoin and then shifts to gold as a defensive measure against potential declines in Bitcoin's value.[25]

As of September 2023, Swissborg had about 700,000 verified account holders.[26]

The company is accredited by the Financial Intelligence Unit (Estonia), the Supervisory Body for Financial Intermediaries & Trustees (Switzerland), and the Financial Markets Authority (France).[27][28]

References

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  1. ^ "ALEX FAZEL ASKS YOU TO PREDICT THE PRICE OF BITCOIN". irishtechnews. 2019-12-05. Retrieved 2024-10-02.
  2. ^ Walker, Mark (2021-03-15). "SwissBorg on Making Finance Fair". The Fintech Times. Retrieved 2024-10-02.
  3. ^ "Swissborg Price Prediction | What Is Swissborg (CHSB)?". capital.com. Retrieved 2024-10-02.
  4. ^ Walker, Mark (2021-03-15). "SwissBorg on Making Finance Fair". The Fintech Times. Retrieved 2024-10-02.
  5. ^ "Swissborg Price Prediction | What Is Swissborg (CHSB)?". capital.com. Retrieved 2024-10-02.
  6. ^ McCracken, Tayler (2021-01-02). "SwissBorg Review 2024: Crypto Wealth Management Solution!". Coin Bureau. Retrieved 2024-10-02.
  7. ^ "Cyrus Fazel: My family was 'nouveau poor' - and I wanted to be wealthy". CityAM. 2022-12-09. Retrieved 2024-10-02.
  8. ^ Raza, Ali (2023-06-09). "Investing In SwissBorg (CHSB) – Everything You Need to Know". www.securities.io. Retrieved 2024-10-02.
  9. ^ Williams, Jason (2020-04-17). "SwissBorg Launches the Wealth App: an All-in-One Crypto-Investment Mobile App". The Fintech Times. Retrieved 2024-10-02.
  10. ^ "SwissBorg partners with Onfido". thepaypers.com. Retrieved 2024-10-02.
  11. ^ "10 Swiss Fintech Startups Ready to Accelerate Their Growth in Asia". Swissnex in China News. 2020-11-04. Retrieved 2024-10-02.
  12. ^ "SwissBorg CEO Cyrus Fazel: 'We enable everyone to enjoy the world of decentralized finance, regardless of their investment interests'". www.venturelab.swiss. Retrieved 2024-10-02.
  13. ^ "SwissBorg launches yield wallets for USDC, ETH and CHSB". cointelegraph. 2021-03-19.
  14. ^ Raza, Ali (2023-06-09). "Investing In SwissBorg (CHSB) – Everything You Need to Know". www.securities.io. Retrieved 2024-10-02.
  15. ^ "SwissBorg Review". coinweb.
  16. ^ "SwissBorg partners with OpenPayd". thepaypers.com. Retrieved 2024-10-02.
  17. ^ Sharma, Ray. "SwissBorg Selects OpenPayd's Banking-as-a-Service Platform in Europe". www.thefastmode.com. Retrieved 2024-10-02.
  18. ^ "Swissborg reports remarkable success". startupticker. 2021-03-19.
  19. ^ Jawaid, Jasir (2023-09-13). "SwissBorg Thematics: Crypto Wealth Management Made Easy". Coin Bureau. Retrieved 2024-10-02.
  20. ^ Writer, Staff; TradeArabia. "SwissBorg enters the UAE to redesign the banks of the future". www.zawya.com. Retrieved 2024-10-02.
  21. ^ Release, Press. "SwissBorg enters the UAE to redesign the banks of the future". www.zawya.com. Retrieved 2024-10-02.
  22. ^ Kumar, Ravi (2023-04-18). "SwissBorg Closes €20M Series A, Shatters Records and Sets New Standards in Community-Centric Fundraising". AlexaBlockchain. Retrieved 2024-10-02.
  23. ^ "SwissBorg: The app aiming to make crypto investment accessible". SwissInfo. 12 November 2020. Retrieved 2023-10-02.
  24. ^ "SwissBorg: Ein neuer Player im Krypto-Markt". NZZ. Retrieved 2023-10-02.
  25. ^ Jawaid, Jasir (2023-09-13). "SwissBorg Thematics: Crypto Wealth Management Made Easy". Coin Bureau. Retrieved 2024-10-02.
  26. ^ "SwissBorg Exchange Review 2024 - Fees, Pros & Con". dappgambl.com. Retrieved 2024-10-02.
  27. ^ France, Medias (2018-12-28). "SWISSBORG: THE WEALTH MANAGEMENT PLATFORM ON THE BLOCKCHAIN". Forbes France (in French). Retrieved 2024-10-02.
  28. ^ Pickering, James (2023-07-19). "SwissBorg vs OKX: Which is the One For You?". Coin Bureau. Retrieved 2024-10-02.
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