26.10.2023,
6450 Zeichen
Zurich, Stockholm and London (OTS) - Sygnum, the world's first
digital asset bank, today announces an innovative new private debt
asset token with Float, a Stockholm-based Capital-as-a-Service
company. Fasanara Capital, one of Europe's largest credit funds in
fintech, is acting as senior lender.
New asset token offering gives clients direct access to a unique
new investment opportunity: exposure to a diversified portfolio of private SME loans to European SaaS and technology businesses\nToken has a maturity of 18 months and a fixed annual interest
rate of 14 percent, with token and investor rights fully recognised and compliant under the Swiss DLT legal framework\nTokenised private debt markets forecast to be worth USD 3.5 trillion* by 2030\n The Float Token is a private debt asset token launched by Float**
in partnership with Sygnum Bank on the Polygon blockchain.
Exclusively available to Sygnum clients, it provides a unique
opportunity to invest into a private debt portfolio alongside
Fasanara Capital, a leading institutional fintech credit fund
manager. The token has a maturity of 18 months with a fixed annual
interest rate of 14 percent and quarterly interest payments. The
token provides exposure to a diversified portfolio of SME loans to
European SaaS and technology businesses.
Float token investors additionally benefit from its on-chain proof
of ownership and ease of transferability, lower ticket sizes and
liquidity in Sygnum's secondary market, SygnEx. The token and
investor rights are fully recognised and compliant under the Swiss
DLT legal framework.
Fatmire Bekiri, Sygnum's Head of Tokenisation, says, "The Float
Token marks the first time a high-yielding private market instrument
is being made widely available to investors through tokenisation.
This project emphasises Sygnum's strategic focus on making private
market assets more easily accessible and investable. It is only the
first issuance with more to follow."
Fasanara Capital, one of Europe's largest tech-enabled credit fund
managers, is acting as senior lender. It manages more than USD 4
billion AuM in fintech strategies, including one of the oldest and
largest global digital asset market-making funds. Francesco Filia,
CEO and Co-Founder of Fasanara Capital, says "Tokenised debt markets
are on the cusp of going mainstream and we expect this asset class to
reach USD 3.5 trillion by 2030. This partnership is a breakthrough
for tokenisation and we are dedicated to bringing even more debt
on-chain. We are proud to support bringing Float's high-performing
debt portfolio into Sygnum's market-leading environment."
Cedric Notz, CEO and Co-Founder of Float, says "Revenue-Based
Lending (RBL) to European SaaS businesses has one of the best
performing risk-return profiles, which has also proven very resilient
over time in difficult markets. The issuance of the Float token – the
first private debt asset token – required the close collaboration of
experts in lending, debt financing and tokenisation to make it a
reality. It is this kind of interdisciplinary, innovative partnership
that will transform the face of traditional finance in the future."
In 2020, Sygnum was the first bank to offer a regulated,
end-to-end [tokenisation solution]
(
https://www.sygnum.com/tokenisation/) comprised of Desygnate, a
primary market issuance platform, and SygnEx, a secondary market
trading facility. Through Sygnum, investors were able to get trusted
exposure to asset classes previously seen as hard to access, like
private debt markets, in a direct, fully compliant and fractional
manner.
*Citi Report March 2023: [Money, Token and Games]
(
https://www.ots.at/redirect/citi) **The Float Token originator is
Float Finance AB (Sweden), which adheres to MiFID (or equivalent)
requirements.
Zwtl.: About Sygnum
Sygnum is the world's first digital asset bank, founded on Swiss
and Singapore heritage. We empower professional and institutional
investors, banks, corporates and DLT foundations to invest in the
digital asset economy with complete trust. Our team enables this via
personal, expert service and secure, convenient access to our
integrated portfolio of crypto banking, asset management,
tokenisation and B2B banking services. Sygnum is a licenced Swiss
bank and is also regulated in the established global financial hubs
of Singapore, Abu Dhabi and Luxembourg. We believe that the future
has heritage. Our diverse crypto-native team of banking, investment
and digital asset technology professionals are building a trusted,
regulated bridge between the traditional and digital asset economies
that we call Future Finance. To learn more about how Sygnum is
shaping this trusted digital asset ecosystem, please visit
[www.sygnum.com] (
http://www.sygnum.com/)
This document was prepared by Sygnum Bank AG. This document may
contain forward looking statements and may be subject to change. The
opinions expressed herein are those of Sygnum Bank AG, its
affiliates, and partners at the time of writing. The document is for
informational purposes only and contains general material. It is for
use by the recipient only. It does not constitute any advice or
recommendation, an offer or invitation by or on behalf of Sygnum Bank
AG to purchase or sell assets or securities. It is not intended to be
used as a general guide to investing and should be used for
informational purposes only. When making an investment decision, you
should either conduct your own research and analysis or seek advice
from an expert to make a calculated decision. The information and
analyses contained in this document have been compiled from sources
believed to be reliable. However, Sygnum Bank AG makes no
representation as to its reliability or completeness and disclaims
all liability for losses arising from the use of this information.
Zwtl.: About Float
Float is an alternative lending fintech from Sweden with a
geographic focus on the Nordic countries, the DACH region, Benelux
and the Baltics. Specialized in B2B lending to SaaS and other
technology businesses of up to 10m€ in revenues, Float uses advanced
technology to conduct a more diligent yet faster underwriting process
and create a superior customer experience. Float was founded in 2019
and is registered with the relevant financial authorities. To learn
more, visit www.gofloat.io.
Zwtl.: About Fasanara
Founded in 2011, Fasanara Capital is a London-headquartered
FCA-authorised investment firm and technology platform. We manage
USD 4 billion in Fintech strategies.
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