Crypto Valley, Switzerland. We are pleased to announce that BLOCKCHAIN PROPULSION® has been shortlisted as one of the “Investment Cases” within the DIFC FinTech Fund! The USD 100 million FinTech Fund assists promising startups raise growth capital, while also supporting their outreach and connections within the wider financial services industry.
Alike many other startups as well as established corporations around the world, 2020 has been a very challenging and reflecting year operating under the pandemic cloud of COVID-19. During these unusual times, we remain cognizant of the difficulties and uncertainty that many people are currently facing – as we appreciate the basic things afforded to us in life, health, family, including small achievements in our professional endeavours. In this context, we are humbled to receive this positive and uplifting news about our down-selection into the DIFC FinTech Fund to close out the year.
We continue to execute our business strategy to become one of the leading global players in structuring and facilitating the fully legal and regulatory compliant issuance of “Digital Assets” around the world, powered by our 100% IP-owned and state-of-the-art Swiss banking-grade technology stack (the BPRO Digital Assets Issuance Platform™), which is hosted in triple georedundant Data Centres in Switzerland with the highest security standards (ISO 27001).
Despite the pandemic, we managed to sign 6 new client agreements(!) this year for the tokenization of assets across multiple industry verticals, primarily leveraging our world’s first regulated tokenized Alternative Investment Fund (AIF) for the global real estate industry (the “BPRO Real Estate Fund”), which we opened in Jun-2020 after receiving approval from the Financial Market Authority (FMA) in the Principality of Liechtenstein – licensed under the new Blockchain Act that came into force at the beginning of Jan-2020 (Token and Trusted Technology Service Provider Act or TVTG).
Furthermore, we signed a strategic collaboration agreement with the first FCA-regulated Digital Securities Exchange in London to provide the necessary liquidity and regulated secondary market trading venue for Digital Assets issued for our clients through the BPRO Digital Assets Issuance Platform™. We have already started the preparatory work for the pre-admittance listing of our first client projects, which will also provide primary market channels for capital raising from institutional-grade investors around the world. In summary, we are building the “blueprint” for the issuance and listing of Digital Assets with a trusted partner ecosystem that can be replicated in the DIFC – and in other jurisdictions globally.
Our confirmed shortlist in the DIFC FinTech Fund is further testament that we are on the right track and also recognizes the progress we have made as a startup since our incorporation in May-2019. We submitted our “Business Plan” to the DIFC FinTech Fund on 18-Nov-2020, which was assessed in terms of whether our product/solution is financially viable, feasible in relation to the legal & regulatory framework of the Dubai Financial Services Authority (DFSA), and relevance to potential partners and investors within the DIFC ecosystem – as well as meeting the following eligibility prerequisites:
1. We are at “Growth Stage” with a tested and proven product/solution in the market.
2. We have a presence in the MEASA region – BPRO FinTech Ltd is registered in the DIFC.
3. We are an innovative technology firm with relevance to the Financial Services industry.
Access to investment capital is imperative and fundamental for any startup entering growth stage. We look forward to further pioneering and co-creating value in the area of Digital Assets and Decentralized Finance (DeFi), while tackling the new challenges that await us in 2021, and beyond – potentially in strategic cooperation with the DIFC FinTech Fund.
On behalf of BLOCKCHAIN PROPULSION®, we appreciate this unique opportunity and look forward to going through the next steps of due diligence and audit assessment with the DIFC FinTech Fund Team!
Founder & CEO
Blockchain Propulsion AG