Swissborg
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Swissborg in numbers
Swissborg (CHSB) ranks #239 by market capitalization, at $163.59M. It belongs to the CeFi sector (Centralized Asset Managers). It has traded since Feb 7, 2018, across 30 markets on 5 exchanges, with $356.26K of volume in the last 24 hours. Its all-time high of $1.56 was reached on May 4, 2021; the current price is 90.5% below that peak. Its cycle low of $0.106469 came on Jun 15, 2023.
98.2% of the maximum supply of 1.00B CHSB is in circulation. It is available on 2 networks.
About Swissborg
SwissBorg is a financial technology company specializing in cryptocurrency investment services. The company enables customers to buy, sell, and exchange cryptocurrencies using fiat currencies. SwissBorg offers thematic cryptocurrency investment bundles, allowing users to invest based on specific themes. Additionally, the company provides passive income opportunities through SwissBorg Earn, leveraging a range of decentralized finance (DeFi) protocols for optimal returns. SwissBorg's investment tools include a Smart Engine for trading across multiple exchanges, Portfolio Analytics for financial insights, and Hourly Asset Analysis leveraging machine learning for trend predictions in crypto assets.
Background
The SwissBorg project was founded in 2017. Cyrus Faizel, CEO & Co-founder of SwissBorg, expressed the vision behind: "From day one, it has been SwissBorg’s objective to build a community-centric financial ecosystem that enables anyone, anywhere to be in control of their own wealth. The launch of our Wealth App delivers perfectly on our mission, and we look forward to bringing financial freedom to many".
The team successfully raised $50m from its ICO in January 2018, and after a year of building and developing, launched the SwissBorg Community App in March 2019, and eventually it's flagship product: the SwissBorg Wealth App in January 2020, giving first and foremost its users the ability to trade cryptocurrencies, and later on the possibility to earn a yield on deposit coins.
The platform is essentially a crypto wallet and exchange, enabling the trading of listed cryptocurrencies. The trading platform offers a seamless experience to retail users, with curated and easy-to-use trading tools, portfolio analytics, tax tracker, and ways for the community to interact, using the Community App (turned into the Challenge App)
Since Q4 2020, Swissborg has turned into a savings platform, providing interest-bearing accounts on USDC and CHSB with its "Smart Yield" feature. In the future, the team plans to increase the number of available interest-bearing underlying assets on the platform, starting with BTC, ETH, BNB and DAI.