October 15, 2019
Blockchain & Cryptocurrency

Germany’s Bitbond Launches STO to Continue Supporting Asia’s SMEs

Media Release:

HONG KONG, May 28 — Bitbond, the first German regulated global lending platform
using blockchain technology, is launching an STO (Security Token Offering) to fund small business loans in Asia.

The marketplace lender has raised €2 million so far and is opening the STO out to an
international audience with a goal to raise €3.5 million.

“Small businesses are an incredibly important part of the economy, and hire the majority of all employed people worldwide,” says Radoslav Albrecht, founder and CEO of Bitbond. “We see this STO as a way to help small businesses create more jobs, and supercharge their own growth.”

Bitbond provides working capital loans to small businesses and online retailers and has already facilitated over $15 million in business loan volume.

The platform is currently supporting over 150,000 users in 80 countries – a feat only possible with the use of blockchain technology to facilitate cross-border payments and machine-based learning for efficient credit-scoring.

 

Bitbond primarily focuses on SMEs using eCommerce platforms, like eBay, Amazon and Etsy. These platforms have APIs which the Bitbond can connect with to learn about the health of the business.

Ali Asfour is a construction worker in Kuwait, who sells cosmetics on eBay as a side business. He came across Bitbond when researching cryptocurrencies as a means to increase profits, and found the application process to be so easy, that he immediately applied for a loan.

Blockchain The Digital Artist on Pixabay

Image source: The Digital Artist on Pixabay.

“The money I borrowed helped me to expand my business to a global scale,” Ali Asfour
highlighted, “I would recommend it to any small business that needs a cash injection to grow.”

In the Philippines, Dr Joemar Taganna was working on a research project in the Bioengineering Sciences, but pivoted to launch a software development business.

A Bitbond loan helped to launch SciBiz Informatics, and covered expenses whilst the business established its reputation with clients.

“It’s much easier to secure a Bitbond loan than more traditional routes to seed finance.” Dr. Taganna says, “there’s a lot less hassle, which makes it quicker to launch a business and achieve sustainable growth.”

The security token of Bitbond (BB1) works like a bond, with Bitbond buying the token back after 10 years. It is the first German STO with a regulator-approved prospectus, which provides other businesses with a framework to learn from.

Bitbond’s STO will run until the 8th of July, and is open to investors around the world, except residents of the USA and Canada. )Bitbond)

About Bitbond:

Bitbond is the first global lending platform for small business loans and the first German
company to receive a regulatory licence for their STO (security token offering)  prospectus. It leverages blockchain technology to connect creditworthy borrowers with individual and institutional investors. It is a regulated financial institution supervised by the German financial regulator BaFin.

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