Swiss crypto company receives the first ISIN code for a DeFi product

CrescoFin takes the first steps to bridge Traditional Finance and Crypto.
 
GENEVA - Oct. 7, 2020 - PRLog -- CrescoFin SA 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.
Going from strength to strength in matters of development and adoption, the DeFi segment emerged as the most dynamic and promising sector in the blockchain universe. DeFi offers new opportunities for individuals, developers, and institutions to operate in a transparent, open, and vibrant new financial environment. DeFi's redesigned financial products such as loans, derivatives, and financial contracts bring greater liquidity to the main crypto market.
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 blockchain 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://defi.crescofin.ch
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Tags:Fintech
Industry:Financial
Location:Geneva - Geneva - Switzerland
Subject:Products
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