SIBEX Raises CHF 1.78 Million in Seed Round to Transform OTC Digital Trading

Investment received from leading industry players SIX, Fenbushi Capital, and Accomplice VC

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The developer of the peer-to-peer protocol creating new arbitrage opportunities for institutional traders and eliminating the issues that exist with current OTC markets, SIBEX AG, has raised CHF 1.78 million (€1.61 million) in its seed funding round.

Daniel Haudenschild, CEO of SIBEX, said:

“People are rapidly realizing the value of trading digital assets, resulting in an inevitable shift towards the digitization of wealth. However, we’re still at an early stage in the development of this technology and the resulting lack of infrastructure for OTC trades can present issues that alienate institutional investors used to a certain quality of service. SIBEX is committed to solving the problems that exist while also exposing professional traders to a new world of trading strategies and opportunities. The support of Fenbushi Capital, SIX, Accomplice, and our other investment partners is invaluable in helping us to achieve this goal.”

Commenting on the investment, Bo Shen, Founding Partner, Fenbushi Capital, said:

“We’re reaching a tipping point for institutional investor interest in digital assets trading. The right infrastructure for securely and privately trading large block orders is a vital piece of the puzzle, and the SIBEX protocol is the perfect solution to fill that space. We’re extremely excited to partner with SIBEX and assist in bringing the opportunities that this platform represents to traders around the globe.”

Rob Shavell, Partner, Accomplice VC, concluded:

“Before OTC trading of digital assets can really take off and reach its full potential, institutions that are interested in entering the space need assurances of trust and stability in the peer-to-peer platform. SIBEX is taking the lead in making the vital shift to on-chain settlement in the ecosystem. Our investment is not only an endorsement of their first-class service, but also showcases the confidence we have in the technical prowess and capabilities of SIBEX’s team to create the gold-standard for the peer-to-peer trading protocol of the future.”

SIBEX received backing from China-based Fenbushi Capital; SIX, the Swiss financial infrastructure provider; and specialist blockchain investment Accomplice VC, among others. 

The SIBEX peer-to-peer protocol and the SIBEX client leverage blockchain technology to remove intermediaries and enable professional traders to trade the world’s most popular crypto-assets with one another directly. Traders can choose between assets including Bitcoin, Ethereum, USDT, and ERC20 tokens and use the SIBEX client to trade them peer to peer. Unlike centralized exchanges, traders using SIBEX’s software maintain custody of their assets during trades.

sibex diagram

By providing an institutional-grade dark pool for digital asset procurement and liquidation and enabling cross-chain transactions, the SIBEX protocol solves issues such as front-running, whereby those with advance knowledge of a large buy or sell order can manipulate the price of the asset and make a profit. By enabling traders to maintain custody of their assets throughout the trade settlement, SIBEX prevents such occurrences and increases market integrity. SIBEX is also a solution for OTC trading in commodities like oil and gold once trading in digital asset commodities grows.

For more information about SIBEX, visit:  https://sibex.io/

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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