BitBay Exchange Has Partnered with Neufund to Create a Platform To Buy and Sell Security Tokens
The partnership between Neufund and BitBay will see the equity fundraising platform accepting investment from investors to buy and sell equity tokens with a fiat currency. Investors could use the platform to purchase equity tokens to later exchange the crypto for cash. According to a study conducted by Polymath back in August 2017, the security token market in blockchain could be expected to rise from $50m to $10tn in 10 years. This is a huge increase in the security tokens market which many companies are looking to capitalise on.
The announcement follows Neufunds partnership with the Malta Stock Exchange and Binance which will help see investment and liquidity to the platform. Neufund will require the support of exchanges to allow investors to convert their equity crypto to fiat. The first to support this is BitBay which will allow investors to liquidate their equity tokens for Polish Zloty, Euros and US dollars.
BitBay is the third largest exchange in Europe founded in 2014 in Poland with most trades occurring here. The exchange recently moved to Malta for its operations due to regulatory concerns as it hopes to become the first fully regulated exchange, trading crypto assets alongside the traditional financial instruments. Three bills have recently been passed in Malta for the regulations of Distributed Ledger Technology (DLT) to support selling crypto and other services.
The platform currently has seven companies from five countries tokenising their shares: BRILLE24 eyetech, UNITI, mySWOOOP, NEXT BIG THING, EMFLUX MOTORS, BlockState and Founders Bank. The partnership between Neufund and its exchanges is still new in which investors hope more companies will use the platform to offer their equity tokens.
To sell your Bitcoin, cash out crypto or just to keep informed with the latest news, be sure to head to BC Bitcoin.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards