Bitwala Releases Equity Tokens In Pursuit Of Building The World’s First Blockchain Bank With Decentralised Ownership.
At 14:00 CEST On October 11th Bitwala, the Berlin, Germany based blockchain, finance and cryptocurrency organisation announced the launch of Europe’s first equity token as part of its endeavours to develop one of the first blockchain banks, with decentralised ownership.
What sets Bitwala’s token from other crypto financing projects, is that the token it plans to offer represents equity in the underlying company (instead of utility tokens for use in the ecosystem), allowing participants to take part in Bitwala’s Equity Token Generation (ETG) event, which will happen sometime before year-end.
The company boasts an advisory board packed with industry heavyweights, leveraging expertise from banking, blockchain technology and entrepreneurship. The project includes Max Kordek (CEO and co-founder of Lisk); Ricardo Schaefer (former Merrill Lynch Investment banker); Dr Alex von Frankenberg (HGTF Managing Director); as well as Niels Dörje in the role of strategic advisor; and Andreas Hoerr as Bitwala’s consumer marketing consulting an expert.
Dr Ricardo Schaefer an early Bitwala investor and former Merril Lynch investment banker is quoted as having said: “Blockchain has the potential to fundamentally change how we exchange financial value in an increasingly global marketplace,”. He continued by stating “Bitwala’s ambition to create a borderless banking solution that operates in harmony with current financial systems and regulations is truly game-changing. We are excited to join them on this journey, and look forward to celebrating imminent milestones with them,” continued Schaefer.
Bitwala CEO Jorg von Minckwitz commented, “We are proud of our achievements to date, and remain firmly focused on achieving our vision of creating Europe’s first true blockchain-enabled bank.”
“With a number of important milestones imminent, we are excited to take Bitwala to the next level, and make banking faster, cheaper and accessible to even more consumers and businesses,” he concluded.
Bitwala, founded in 2015, already has an award-winning international money transfer service that enables the transfer of values across 60 major cryptocurrencies into Euros, British Pounds and 20 other fiat currencies to over 150 countries globally.
The company also offers a VISA powered debit card so users can access funds both online and offline, as well as a bitcoin supporting API that allows white-labelled access to their products for business solutions.
For more information on the upcoming ETG event, please visit: https://vision.bitwala
Launched in 2015, Bitwala. In 2016, it received funding from Barry Silbert’s Digital Currency Group and High Tech GruenderFonds – Germany government’s leading seed investment fund. The award-winning service offers a simplified way of making international money transfers and bill payments with or without a bank account. It currently has more than 55000 business and private users in 120 countries around the world.