Wevest Digital AG, a Berlin-based fintech company, announced this week that it will use the Stellar blockchain for its upcoming Security Token services.
Wevest Digital AG is a fintech company that offers digital investment banking services for small and medium-sized enterprises (SMEs). After looking for a suited blockchain for its Security Token services, the team behind Wevest decided to go for Stellar. According to a press release, Wevest identified Stellar as the most suitable platform for its new product.
Didier Goepfert, Head of Product at Wevest, said about the decision to start with Stellar:
“Stellar was an obvious choice — it combines simplicity, speed, cost efficiency and met all our requirements. We are glad to join the Stellar ecosystem along with several other European companies, contributing to the adoption of blockchain-based products and providing SMEs with easy and efficient access to equity financing through electronic securities.”
Small business in emerging markets normally struggle to find a banking partner. Luckily, nowadays, finance-centered blockchain startups can bridge that gap. Boris Reznikov, Director of Partnerships at Stellar.org, said about the news:
“We’re thrilled for wevest to become the latest German fintech to join the Stellar ecosystem. Wevest’s investment platform takes advantage of what the Stellar network does best — facilitating the efficient transfer and exchange of value — and we look forward to the upcoming launch of their platform.”