Swiss crypto company receives the first ISIN code for a DeFi product.
Geneva, 05 October 2020: CrescoFin SA (CrescoFin or the Company) is pleased to announce that it has become the first decentralized finance (DeFi) company to be awarded an International Securities Identification Number (ISIN). An ISIN securities code is the standard in traditional finance for securities products.
The product is also the first DeFi solution listed on the Bloomberg terminal along with traditional finance products. The Bloomberg terminal provides real-time data, news and analytics for financial professionals.
Although the DeFi industry has experienced significant growth, most of it is made up of crypto evangelists; institutional money has not found a foothold in this nascent segment yet. In fact, several popular DeFi projects are focused on individuals and represent uncharted waters for institutions. CrescoFin is drawing traditional investors' attention to DeFi’s potential, leveraging the need for safety and yield.
CrescoFin’s fully insured decentralized deposit account is a DeFi solution with tangible, real-world benefits. The product was designed to tap crypto liquidity providers and offer institutions a route to DeFi, globally. The founders of CrescoFin created the solution for themselves as an alternative to the increasingly lower interest rates on cash deposits.
Robert Sharratt, co-founder of CrescoFin, believes that for crypto to replace core banking you need to neutralize banks’ psychological advantage: insurance.
“Finance is about risk and return. We equate having ‘money in the bank’ with being risk-free, even if it is not quite true. To be comparable to a bank account, the risk needs to be the same or less. To be a compelling alternative the returns need to be higher. DeFi mass adoption needs the creation of a fully decentralized deposit account that offers a secure, insured yield. That's exactly our path.”
Currently, the product is available in three currencies to selected institutional investors. You can find more details at https://crescofin.ch/
Rue de la Croix-d’Or 9
+ 41 22 311 20 20
CrescoFin is a regulated Swiss company that offers insured,
interest-bearing deposit accounts on chain, with higher rates
than in a bank. The Company offers a dual track approach, in
fiat and crypto, and is focused on acting as a bridge between
traditional finance and crypto for institutions. The goal of the
Company is to bring substantial institutional funds to DeFi.
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