After raising a staggering $53m for its ICO, the CEO of Swissborg puts this early success down to the faith and belief that exists within the community he’s helped build since 2016.
The blockchain-based wealth management platform based in Switzerland aims to assist its users throughout their cryptocurrency journey.
For those making their first venture into the world of cryptocurrency, Swissborg’s ‘Wealth App’ and ‘Community App’ claims to make those first steps less daunting with live asset analysis and real-time advice on investing strategies available to users on the Wealth app.
Users on the community app are able to speculate on the price of Bitcoin in a game called Crypto Challenge and, if they are right, they actually win Bitcoin.
Cyrus Fazel, the co-founder of Swissborg, said he’s already witnessed success from the launch of the app and its network token (CHSB).
“Well, we started with a team of a dozen people now we are over 200,” he said.
“Our app has half a million users and our token has blossomed into the utility token we promised it would be with additional use cases.”
After the launch of Swissborg in 2017, the team has made significant strides in what was the first wealth management platform for cryptocurrency.
A vision for growth
Fazel said his team had a vision for how much they’ve grown in a relatively short time and also pays tribute to the community Swissborg has built.
“We had a vision for this, and we made it happen with the help of our amazing community,” he explained.
“What helped was that crypto became more mainstream as we were scaling, so the space and the company grew together.
“At its core, I believe that the world of blockchain will pave the way for our future. When SwissBorg first started, it was our dream to scale up to where we are now.
“Of course there have been bumps along the way, but thanks to our incredible and ever-growing team, our dream has become a collective reality.
Fazel speaks highly of his team which includes co-founder Anthony Lesoismier and Fazel’s brother – Alexander Fazel – who is the Chief Partnership Officer (CPO).
Swissborg began with a team of a dozen people but now employs more than 200 people across over 20 countries.
The platform made major waves in 2017 following its ICO that raised $53m from 24,000 people in more than 149 countries.
Fazel eloquently explained why it was important to create a community that can trust you and expects you to put your best foot forward in realising their dream.
“I think people are attracted to sincerity and humility,” he said.
“It’s not enough to make them dream of a better future – you have to dream it with them. You have to wake up every day and work towards realising that vision, that dream. If you doubt, they will doubt. If you hope, they will hope.
“You have to take the responsibility of promises made seriously and put every waking moment into trying to realise that shared dream.
“Having a listening ear and communicating constantly with the community helps you stay in touch with their needs. Seeing yourself as a member of the community and not as its leader is essential in a space that tries to break the traditional corporate structure and culture.”
This year, Swissborg reached the $1bn valuation mark for the first time and launched its CHSB token where users on the Swissborg app can earn a yield on the token based on the community index.
It also reached 500,000 verified users on the app and, despite all the success Swissborg has achieved, Fazel remains bullish in his mission for the project.
“To make wealth management accessible and enjoyable for all,” he said.
“After working in traditional finance, I realised the need for a wealth management solution that brought the power back into the hands of the people, and out of the hands of the bank.”
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.