Zug - The Blockchain investment company blufolio is investing in Liquineq, a start-up from the Greater Zurich Area. Liquineq is developing a platform for global money transfers, which can be used for numerous banking applications.
Liquineq has developed a payment platform that uses blockchain technology for security purposes. The platform facilitates real-time, P2P payment services in addition to cross-border value exchange between local fiat currencies and other asset classes. According to the information available, the platform can also manage several currencies in a single wallet and integrates both anti money laundering (AML) and Know Your Customer (KYC) processes. Banks will predominantly make use of the platform, with the technology able to be used across a number of banking applications. Overall, it should help banks to more efficiently process global transactions.
Matthew Le Merle, Consultant at Liquineq, concluded in a press release that: “For the global remittance market, banks want a much faster, secure, low transaction cost, compliant and immutable distributed ledger platform that they can use on their own behalves. Liquineq has already created this solution and started the deployment”.
The blockchain investment company blufolio, which is headquartered in Geneva, will now invest in the Zug-based start-up. “We are delighted to support the growth of Liquineq, which is targeting a clear gap in the market for global remittances. We see a wealth of opportunities for Liquineq’s top-drawer management team to leverage its offering via partnerships in emerging markets and look forward to accompanying them on their growth path”, commented Balazs Klemm, founding partner of bluolio AG.