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Home Capital Raising

SIBEX raises CHF 1.78 million to develop its P2P crypto trading network

Published by CryptoNinjas.net
10/24/2019
SIBEX raises CHF 1.78 million to develop its P2P crypto trading network

SIBEX AG, the developer of a peer-to-peer (P2P) network removing intermediaries from digital asset financial markets, today announced that it has raised CHF 1.78 million (€1.61 million) in a seed funding.

The company received backing from China-based Fenbushi Capital; SIX, the Swiss financial infrastructure provider; and specialist blockchain investment Accomplice VC, among others.

SIBEX

The SIBEX peer-to-peer protocol and the SIBEX client leverage blockchain technology to remove intermediaries and enables professionals to trade popular crypto-assets with one another directly.

Traders will be able to choose between assets including bitcoin, ether/ERC20 tokens, and USDT. The SIBEX client allows users to trade peer to peer and maintain custody of their assets during trades.

“People are rapidly realizing the value of trading digital assets, resulting in an inevitable shift towards the digitization of wealth. However, we’re still at an early stage in the development of this technology and the resulting lack of infrastructure for OTC trades can present issues that alienate institutional investors used to a certain quality of service. SIBEX is committed to solving the problems that exist while also exposing professional traders to a new world of trading strategies and opportunities. The support of Fenbushi Capital, SIX, Accomplice, and our other investment partners is invaluable in helping us to achieve this goal.”
– Daniel Haudenschild, CEO of SIBEX

By providing an institutional-grade dark pool for digital asset procurement and liquidation and enabling cross-chain transactions, the SIBEX protocol solves issues such as front-running, whereby those with advance knowledge of a large buy or sell order can manipulate the price of the asset and make a profit.

“We’re reaching a tipping point for institutional investor interest in digital assets trading. The right infrastructure for securely and privately trading large block orders is a vital piece of the puzzle, and the SIBEX protocol is the perfect solution to fill that space. We’re extremely excited to partner with SIBEX and assist in bringing the opportunities that this platform represents to traders around the globe.”
– Bo Shen, Founding Partner, Fenbushi Capital

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