Finance is the bedrock of many businesses and having limited funds could signal the end of their operations. Considering the high-interest rates and other factors that threaten the loaning process in fiat climes, Bitbond, a German cryptocurrency-based lending platform opted to use blockchain technology to enhance swift loans for SMEs.
After recording a landmark success that included the extension of its services to 80 countries, it now seeks to introduce another dimension into its loaning model. The latest formulation as a security token called “Bitbond Token (BB1) is an important step towards increasing its operations across the globe.
Migrating to Stellar
At the onset, Bitbond made use of the Bitcoin blockchain for its pioneer cryptocurrency lending. Issues such as high transaction costs and slow processing buoyed the move to try its hands on another blockchain framework. The quest led it to the Stellar network, which is reputable for faster and low-cost transactions. Considering the fact that it is also the platform behind the cross-border remittance coin, XLM, Bitbond’s global finance model on a decentralized architecture certainly stands to attract more adoptions.
The simplicity of the network also informs the reason why the proposed Security Token Offering (STO) would be disbursed from the same network.
Approved by BaFin
As stated earlier, Bitbond is not alien to the financial sector, especially in terms of loans. Since its inception in 2013, it has been able to fund 3,000 loans worth €13 million. As it prepares to launch what would become Germany’s pioneer security token, Bitbond added another feather to its cap with the approval by BaFin, Germany’s leading financial regulator.
Moving Forward
After the STO, Bitbond aims at facilitating timely loans to SMEs that are qualified to access them. While this is going on, it has plans to pay a 1% interest on a quarterly basis to investors. This would continue until the 10-year mark elapses.
Swift Conversions
Perhaps the most intriguing aspect of this project is the seamless conversion of its security token (BB1) into other currencies/coin variations. For instance, after paying interests to investors, they are at liberty to convert the token to supported fiat currencies or stable crypto coins.
Purchasing the Token
Investments are open to the public but purchases are limited to investors with Euro (SEPA), ETH, BTC, and XLM.
Investors’ Benefits
As an investor in this project, you do not only stand a chance to benefit from the token liquidity but will also enjoy the robust decentralized architecture of the Stellar network, which powers this project. As a holder of the BB1 token, you’ll also benefit from the swift conversions that await you when converting your XLM token into stablecoins or fiat currencies.
Low transaction costs and efficiency are also part of the benefits of being a BB1 token holder. Above all, you’ll get a free Stellar wallet after investing in the token.
Bitbond – Making Investments and Financing Accessible
The 6-year experience it accumulated since inception; the strategic partnerships and regulation by BaFin are the basis of Bitbond’ anticipated success. In a nutshell, it aims at making financing/loans accessible and the BB1 token is a tool to achieve that milestone.
For updates and greater insight on their unique project, visit the links below
STO sign up link: https://www.bitbondsto.com/?a=ANRECZ
Prospectus : https://www.bitbondsto.com/files/bitbond-sto-prospectus.pdf
Lightpaper : https://www.bitbondsto.com/files/bitbond-sto-lightpaper.pdf
Bitcointalk ANN thread : https://bitcointalk.org/index.php?topic=5130337.0
Telegram group : https://t.me/BitbondSTOen
Twitter : https://twitter.com/bitbond
Facebook page: https://www.facebook.com/Bitbond/
YouTube : https://www.youtube.com/user/Bitbond
Instagram : https://www.instagram.com/bitbondofficial/
Writer's information
Bitcointalk username : deodivine1
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1390292
Bitbond Affiliate link : https://www.bitbondsto.com/?a=ANRECZ