Hamburg fintech enters into partnership with Sparkasse

News from Hamburg: The tokenization platform Finexity enters into a strategic partnership with Sparkasse Bremen a. This was announced in advance by fintech BTC-ECHO. Specifically, the cooperation revolves around the savings bank market “Sachwert Invest”, where the bank’s customers can buy tokenized assets. The infrastructure comes from Finexity, explain founders Paul Huelsmann and Henning Wagner in an interview with BTC-ECHO.

A kindergarten with three integrated residential units is initially planned as a start-up project. This will initially be offered via the Sparkasse market place and then also via the Finexity sales platform. According to CEO Paul Huelsmann, this allows for faster and more profitable placement, since the product is offered to two groups of customers. Other co-placements of this type are planned in the future.

Finexity offers tokenized real assets for everyone

At a time when rising inflation rates, the pandemic and the war in Ukraine are weighing on global financial markets, many financial advisers recommend buying tangible assets such as real estate or art. Under current market conditions, however, these can hardly be afforded by most citizens. A problem that the Hamburg fintech company Finexity wants to solve with its investment platform.

Specifically, it is the tokenization of tangible assets. With the power of the blockchain, the Hamburg fintech wants to allow its customers to buy shares in real estate, art, diamonds or even vintage cars from an investment sum of 500 euros. According to its own statements, the platform can represent the entire value chain of digital assets – from structuring and tokenization to primary and secondary market and custody. Huelsmann explains that this is a unique selling proposition across Europe and therefore demand is high:

In terms of volume, real estate is very popular with us because that’s where I generate cash flow that I can distribute and trade on the secondary market. Secondly, we see a strong demand for art objects because it is a market that has performed extremely well in recent years.

But diamonds are also very popular with Finexity customers. This is a sector in which few investors are familiar, but whose value has been very stable over the past few years. “Customers appreciate our know-how”, says Huelsmann.

Fintech relies on Ethereum

Finexity uses the Ethereum blockchain as the technical basis for its own infrastructure. The ecosystem, in particular the stability of the platform, convinced the founders, explains CTO Henning Wagner. In addition, work is currently underway on the connection of other blockchains:

However, we are currently in the process of connecting other blockchains in order to technically expand our portfolio. Especially in the field of exchange. There are channels that are currently extremely interesting for us.

The focus is currently on Stellar, also due to a strategic partnership. More details cannot be revealed at this time, says Wagner.

“First quarter a success so far”

The business model seems to appeal to investors. Finexity was already able to expand its product range last year. The range now includes around 75 products. In addition, attempts are being made to connect other marketplaces, such as Sparkasse, to their own platform.

The business also grew. The Hamburg fintech has 42 employees, almost half of whom work in the financial sector. In an interview with BTC-ECHO, Wagner is satisfied:

We publish on average about 2.4 products every week. It’s a good pace. We are currently in the process of connecting a new partner to our SaaS platform or launching a new marketplace every month, so we will have around ten marketplaces by the end of the year.

In addition, there is an exchange with other trading partners. This includes banks, but also broker pools. They will probably follow the development of the partnership with Sparkasse Bremen closely. In a way, it’s a blueprint for further cooperation to expand your own customer base.

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