SwissBorg Announces its Launch in the UAE

SwissBorg, a cryptocurrency wealth management app in Europe, has launched in the UAE, offering a safe and easy app to invest and earn interest on assets through Web 3.0.

The award-winning app’s formula for mass adoption is two-fold — simplicity and automation — to help anyone regardless of age or skills, become a community member. SwissBorg brings more than six years of expertise to the UAE, introducing a digital asset management app that takes the guesswork out of crypto investments.

In the first year of its operation, the organization raised AED200 million ($54.45 million) via a successful Initial Coin Offering across 146 countries from 25,000 individual contributors across the globe. Today, the platform has 700,000 active users across multiple countries, having established strong relationships with various banks with fiat gateways for 16 currencies and credit cards.

Crypto popularity

In the UAE, the adoption of cryptocurrencies has gained popularity, with both local and international players in healthy competition. According to Gemini’s 2022 report ‘Global State of Crypto’, 35% of the UAE population have adopted some form of crypto tokens, compared to 17% uptake in developed nations. And of the part of the population that has not yet invested, 32% are likely to purchase crypto in 2023. A third of the crypto owners use it to make in-person purchases at brick-and-mortar retailers, compared to just 19% of owners globally.

Anthony Lesoismier, Co-Founder & Chief Strategy Officer at SwissBorg, said: “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 serves as 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.”

Alexander Fazel, Chief Partnerships Officer, added: “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.

Bringing in people

SwissBorg has entered partnerships with local leaders Crypto Oasis in the UAE and is also currently raising funds in the region for a strategic round focusing on short to long-term value creation. The company wants to help the region gain knowledge and expertise on cryptos as a technology, collaborate with local authorities and build a deeper understanding and trust over the long term.

SwissBorg is the first company to give complete transparency on Proof of Assets and Proof of Liabilities trackable at any time in real-time using blockchain technology, creating new norms to restore trust among centralized exchanges in the wake of the recent FTX incident. SwissBorg also offers a live dashboard with key analytics to understand the business activity.

Conflict of interest

SwissBorg considers it to be a conflict of interest for it to be both an exchange and a custodian. The company strongly believes that all assets must be kept separate from the exchange to avoid significant failures, like Celsius and FTX. SwissBorg does not hold custody of users' funds and uses Fire Blocks, the most trusted custodian with MPC Technology to protect users’ assets at all times.

The app’s interface is simple yet robust to use. It provides a welcoming environment for first-time crypto investors, offering a wide range of services for novice to advanced users. Binance, Kraken, LMAX, Bitfinex, and SwissBorg, are connected to the order management system (OMS), which actively searches for the best pricing for its users resulting in the platform becoming their main trading account.

Users can start investing in three simple steps — upload their personal information and proof of identity, which is completely automated, make a deposit with their credit card or cryptos and they can then start investing.