Neufund, a Berlin based Blockchain equity crowdfunding platform, has announced it will establish a “strong presence” in Malta to support its rapidly expanding ecosystem. Neufund has taking an interesting approach by enabling the tokenization of equity and raising capital on the blockchain. Malta has quickly established itself as a Blockchain friendly ecosystem in Europe. Neufund said it will bring European know-how and a team of experts skilled in both Regtech and Blockchain development to Malta.
This past February, Silvio Schembri, Parliamentary Secretary for Financial Services, Digital Economy, and Innovation of Malta, announced the creation of Distributed Ledger Technology (DLT) Regulation. Since then, Malta has received investments pledged by some of the world’s largest cryptocurrency exchanges, such as Binance and OKEx. These two crypto exchanges have relocated to Malta – a country that wants to be known as the Blockchain island. Malta recently announced a number of bills regulating the emerging blockchain industry: MDIA (Malta Digital Innovation Authority) Bill, Technology Arrangements and Service Providers (TAS) Bill, Virtual Currencies (VC) Bill. Last Friday, Malta proposed a set of rules for initial coin offerings (ICOs) and the country is seeking feedback on the consultation now.
“Millions of people already attribute value to virtual currencies, which has created an entirely new market. The concept sounds confusing right now, but I have no doubt that it will form the base of a new economy in the future. Just as we attribute value to pieces of paper, so too will future generations attribute value to electronic storage systems.”
The joint effort between Malta and Neufund is being described as another step towards becoming the worldwide leader in creating a Blockchain-friendly ecosystem and establishing a rich environment and a stable ground for blockchain companies.
Founded in September 2016 by Zoe Adamovicz and Marcin Rudolf, the two entrepreneurs have created a network of smart contracts operating on the Ethereum Blockchain that allows any type of company (blockchain-based or not) to issue equity tokens , in a public or private placement. Neufund’s Platform seeks to combine the benefits of classic VC rounds with the ease of Blockchain technology – based and operating under “German crypto-friendly jurisdiction.”
Neufund has already secured capital for future investments on the Neufund Platform, provided by over 1,000 investors, including experienced VCs like Frank Thelen, Freigeist, Christophe Maire, Atlantic Labs, and corporate funds like, Innogy and a number of crypto industry leaders.
“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,” commented Zoe Adamovicz, CEO and Co-Founder of Neufund. “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. And we hope to influence a positive change in the banking industry with other upcoming projects. We are impressed by the deep understanding and openness shown by Malta’s Government that serves as a great example to regulators all over the world being a live example that actions and official statements speak louder than words.
“Naeufund shares Malta’s view on how to create an ideal ecosystem for investments,” said Schembri. “We are looking forward to work with Neufund as it diversifies the market of crypto products in Malta, adding its equity fundraising of Neufund Platform on 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.”