Created in 2016 SwissBorg is a blockchain fintech aiming to offer wealth management solutions that are easy to use and universally accessible. With an ICO which raised $50Million in 2018, the Swiss-based start-up boasts a large community of token holders and followers that closely follow the progress of its ambitious roadmap.
THE PHILOSOPHY OF BLOCKCHAIN
Headquartered in Lausanne, SwissBorg is building a platform that aims to revolutionise wealth management. Powered by Ethereum, a decentralised exchange protocol that enables the creation of smart contracts, SwissBorg has positioned herself to play a leadership role in the crypto finance sector. Since its preception, in 2016, the founder, Cyrus Fazel’s, goal has been to create a robo-advisor to manage stock portfolios and use new technology to make wealth management accessible. “We found that the world of finance was lagging behind in the digital field. Therefore, innovation was needed. When we fully understood the philosophy of blockchain, we identified the opportunity to decentralise using a platform based on meritocracy,” elaborates, Cyrus Fazel.
With leadership that has a clear understanding of blockchain technology and its philosophical implications and a highly qualified and engaged engineering team, SwissBorg is on the right track to reach its goal. Excited by numerous possibilities for the use of smart contracts Swiss fintech has the herculean ambition of revolutionising the traditional world of finance, by eliminating intermediaries, automating and customising the process of transactions.
DEMOCRATISING ASSET MANAGEMENT
After the ICO’s success SwissBorg recruitee qualified finance experts and a great tech team to work on the SwissBorg Investment app to be launched in Q2 2019. SwissBorg wants to build a financial ecosystem on the blockchain that bridges the on-chain and off-chain worlds. The fintech believes in opening investment opportunities in crypto-asset and offering easy-to-use and tailored solutions for ordinary individuals. Cyrus Fazel explains, “we have two objectives: to democratise access to wealth management and provide holistic financial services.”
Conceived by two friends, Cyrus Fazel and Anthony Lesoismier, SwissBorg now brings together 42 employees in offices in the four corners of the globe: Lausanne, London, Toronto and Tokyo.
For navigating the legal terrain SwissBorg has a very active and cutting-edge legal team that strives to keep the young company compliant and safe. In respect to security, to prevent money laundering, SwissBorg is a proud member of the Financial Services Standards Association(VQF), recognised by the Swiss Financial Market Supervisory Authority (FINMA).
A COMMUNITY REWARDED
Inherent to the open-source technology of blockchain is the importance of community and collaboration, that is why SwissBorg has embraced proof of merit, a concept that aims to reward community participation through rewards.
SwissBorg believes that the community 25k contributors, from 148 different countries, “is our best asset both for daily monitoring and for identifying future improvements in our services. It is this community which today is the strength of SwissBorg.”
Indeed, avoiding the usual intermediaries found in traditional financial transactions, SwissBorg can retain its main investors by rewarding them according to her principle of meritocracy. So far two referendums have been held on the blockchain allowing contributors to express their opinions and get rewarded.
In 2018, SwissBorg carried out one of the biggest ICOs in Switzerland. In 2019 SwissBorg hopes to make more impact with the launch of the SwissBorg App allowing novices and skilled users to trade cryptos in a few clicks and invest in basketfuls of cryptos or crypto indices. “Our priority always refers to democratise finance through technology while offering the best of the existing 2.0 finance services on the market,” concludes Cyrus Fazel.