SwissBorg Enters The UAE Market To Redesign The Banks Of The Future
SwissBorg, one of the top cryptocurrency wealth management applications in Europe, has announced its debut in the United Arab Emirates in order to provide the safest and most user-friendly software for investing and earning income on assets using Web 3.0. The award-winning app’s two-part recipe for widespread acceptance is simplicity and automation, which enables anybody, regardless of age or skill level, to join a community. SwissBorg introduces a digital asset management tool that eliminates uncertainty in cryptocurrency investments, bringing more than six years of experience to the UAE.
Through a successful initial coin offering, the group raised AED 200 million in its first year of operation from 25,000 individual donors in 146 countries. The site currently has 700,000 active users across many nations and has solid ties with numerous banks, which provide fiat gateways for 16 different currencies and credit cards.
Cryptocurrencies have grown in popularity in the UAE, with domestic and foreign players engaging in healthy rivalry. In contrast to industrialized countries, where the adoption of crypto tokens is just 17%, the UAE’s populace has embraced 35% of them, according to Gemini’s 2022 study on the “Global State of Crypto.” And 32% of the population who still need to invest are expected to do so in 2023. Compared to just 19% of owners internationally, a third of cryptocurrency owners utilize it to make in-person purchases at brick-and-mortar stores.
Anthony Lesoismier, Co-Founder & Chief Strategy Officer at SwissBorg, comments, “We are pioneering a new era in asset management and private banking supported by blockchain technology and cryptocurrencies assets. We see cryptocurrencies as a serious investment, and our goal is to provide a variety of long-lasting crypto financial products that everyone can use to participate in the largest wealth transition in human history. The UAE is our perfect Middle Eastern launch pad because it is the region’s commercial, technological and cultural hub. Our extensive experience will enable UAE investors to make more confident cryptocurrency investments.”
SwissBorg is now seeking money for a strategic round focusing on short- to long-term value development. It has partnered with local leaders of Crypto Oasis in the UAE. The business aims to work with regional authorities, foster a better understanding and trust through time, and assist the area in gaining knowledge and experience about cryptos as a technology.
Following the recent FTX incident, SwissBorg is the first company to offer complete transparency on Proof of Assets and Proof of Liabilities, both of which are trackable at any time in real-time using blockchain technology. This innovation establishes new standards to rebuild trust among centralized exchanges. SwissBorg provides a live dashboard with vital information to comprehend company operations.
Being both an exchange and a custodian is viewed by SwissBorg as a conflict of interest. The organization believes that to prevent catastrophes like Celsius and FTX, all assets should be maintained outside the exchange. SwissBorg employs Fire Blocks, the most reputable custodian with MPC Technology, to always safeguard users’ assets rather than keeping custody of their money.
The user interface of the all-in-one crypto investing mobile app is straightforward but reliable. It offers a wide range of services for inexperienced to seasoned customers, creating a friendly environment for first-time cryptocurrency investors. The order management system (OMS), which is connected to Binance, Kraken, LMAX, Bitfinex, and SwissBorg, actively looks for the best pricing for its consumers.
Alexander Fazel, Chief Partnerships Officer, adds, “The UAE is on a trajectory to becoming the crypto capital of the world by gathering industry leaders from all corners of the globe. At SwissBorg, our goal is to be the bridge between traditional finance and decentralized finance and contribute to a world where one community will reshape centuries of broken finance. We’re at the crossroads of a new era and are forever grateful to be a part of this vibrant community. We are bringing in people from all walks of life, and there is nothing more rewarding than having teenagers to senior citizens with the same purpose. SwissBorg will redesign the Bank of the Future layer by layer by educating new crypto investors in the UAE to be a part of this paradigm shift.”
Users may deposit funds using a credit card or cryptocurrency, start investing and finish the process in three easy stages after uploading their personal information and identity documentation, which is fully automated.
SwissBorg wants to stimulate the adoption of technology that narrows the wealth divide by giving local investors a trustworthy platform to invest in cryptocurrencies. The company has never needed institutional financing or venture capital funding and has successfully through two separate crypto crises. It is a viable alternative for investors who value honesty, decency, and long-term investing.