SwissBorg (CHSB)

Utility

SwissBorg is used within the SwissBorg ecosystem to power various features. Users can stake SwissBorg tokens to reduce platform fees and earn rewards. The token also gives holders voting rights to help decide on platform governance and future developments.

Governance

Token holders participate in decision-making processes, influencing how the SwissBorg platform evolves by voting on proposals and changes.

Ecosystem Access

SwissBorg tokens enable access to premium features in the SwissBorg Wealth app, such as AI-powered market analysis, smart engine trading, and multi-currency support.

Community Engagement

The token supports building a strong community by rewarding active users and encouraging participation in the platform’s growth and development.

Pros

• Supports over 60 cryptocurrencies and 15 fiat currencies for deposits and withdrawals, making it versatile.
• User-friendly mobile app available on Android and iOS, designed for easy crypto investing.
• Low fees compared to many other platforms, with transparent pricing.
• Innovative Smart Yield account offers daily optimized passive income by connecting to DeFi.
• Uses a Smart Engine to find the best prices and liquidity by scanning multiple exchanges.
• Strong focus on security and data protection.
• Community-driven governance through a DAO structure.
• Offers curated crypto bundles for easy diversification.
• Over 800,000 users and growing, showing trust and adoption.

Cons

• Limited advanced trading features like stop-loss, limit orders, and leverage, which may not suit professional traders.
• Higher withdrawal fees on some cryptocurrencies, especially Ethereum.
• Smaller selection of cryptocurrencies compared to major exchanges.
• Some users report slow customer support response times.
• Verification process can sometimes be slow or lead to account restrictions.
• Not registered with some local financial regulators, which might concern some users.
• Crypto bundles cannot be broken down into individual assets for selective selling.

For more details, visit the official SwissBorg website.

Founders

SwissBorg was founded by Cyrus Fazel and Anthony Lesoismier. Cyrus Fazel is the CEO, and Anthony Lesoismier is the CSO. They started SwissBorg in 2017 with the goal of improving personal finance using blockchain technology.

Institutional Investors

SwissBorg has received funding from several institutional investors including London Real Ventures, SICTIC, Tokentus, YOBE Ventures, and Viacrest Capital.

Community Investors

The project has raised significant amounts through community funding rounds, involving thousands of individual investors. For example, a Series A community round raised $23 million from over 16,600 investors.

Corporate and Venture Capital

SwissBorg Ventures, the corporate venture arm of SwissBorg, also participates in investments and co-invests with other venture capital firms.

Summary

Key investors include London Real Ventures, SICTIC, SwissBorg Community AG, Tokentus, YOBE Ventures, Viacrest Capital, and a large community of retail investors.

Halal Status of SwissBorg

• Yes, SwissBorg is generally considered halal by many in the Islamic finance community because it is a cryptocurrency token (ERC-20) without direct involvement in interest (riba) or gambling (maysir).
• However, some features like yield or staking may raise questions for some scholars, so it depends on how you use it.
• IslamicFinanceGuru and other Islamic finance forums mention SwissBorg as a halal option for crypto investing, especially if you avoid interest-bearing products.

For detailed personal guidance, consulting a qualified Islamic finance scholar is recommended.