Tuesday, October 26, 2021

Neufund Opens Office in Malta to Participate in ‘Blockchain Island’

Neufund Opens Office in Malta to Participate in ‘Blockchain Island’

Neufund, a blockchain-based equity fundraising platform, has announced the opening of an office in the European island country Malta, which is emerging as a blockchain hotbed. Since the Maltese government formed crypto-friendly regulations, several big names in the crypto space such as Binance and OKEx have begun moving to Malta. 

Also see: Japanese Police Arrest 12 in Bitcoin (Actually Yen) Fraud

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Neufund Attempts Bridging ‘On-Chain and Off-Chain World’

Silvio Schembri, Malta’s Junior Minister for Financial Services, Digital Economy and Innovation, said of the move:

“We are looking forward to working with Neufund as it diversifies the market of crypto products in Malta, adding its equity fundraising of Neufund Platform on the blockchain, thus bridging the gap between the on-chain and off-chain world. We are pleased to be accompanied by companies such as Neufund in becoming the #BlockchainIsland.”

The Berlin-based company Neufund is an investor-directed platform that operates on Ethereum’s blockchain. The company employs blockchain technology to bring increased transparency to the venture capital industry. The Neufund platform offers companies — specifically traditional businesses — the option to raise funds on the blockchain by tokenization of shares, i.e.issuing equity tokens on-chain.

Notable venture capitalists like Atlantic Labs, Freigeist, and Frank Thelen have invested in Neufund. Innogy, a publicly-listed German energy company, has also invested in the company.

Maltese Government: Pro-Crypto

The Mediterranean island country has been working hard towards attracting crypto businesses to its shores. Soon after Schembri presented pro-blockchain business regulations, the inflow of crypto companies in the country has been constant.

Zoe Adamovicz, CEO and Co-Founder of Neufund, stated:

“Together with Malta’s Government, we want to kick-start the creation of crypto-friendly laws with Malta’s DLT framework initiative already serving as a great foundation.”

The regulations are comprised of multiple bills — the Malta Digital Innovation Authority Bill, Technology Arrangements and Service Providers Bill, and Virtual Currencies Bill — all aiming to make the tiny island country as blockchain-centric as possible.

“Looking at Malta’s vision and progress in creating a complete blockchain ecosystem, we have decided to engage our know-how and offer support in building the blockchain future of this progressive thinking E.U. member state,” said Adamovicz.

Look for other countries to follow Malta’s lead. For example, the Eastern European country Belarus has also offered favorable regulations to attract crypto investments.

Will Malta become the leading crypto hub? Share your views in the comments section. 

Images via Medium, intelliblock

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