Asian Investors Pile in to Swiss Crypto
Asian investors snapped up nearly one-third of a Swiss fintech initial coin offering.
Within just 4 hours, Swissborg achieved its 5 million Swiss franc soft goal. The Lausanne-based fintech then reached the hard target of 50 million francs, one day before the initial coin offering closed.
Perhaps eyeing Switzerland as a safe haven away from increasingly wary financial regulators in Asia, investors from the region made up one of the largest tranches of new investors, chief executive Cyrus Fazel told «The South China Morning Post.»
SwissBorg aims to construct a computer dashboard, a cryptocurrency exchange, and a robo-advisor platform for investment in other cryptocurrencies, according to CEO Fazel. It is also filing for a fund management licence in Switzerland, a banking licence in Europe and a cryptocurrency exchange licence in Japan.
