A former Credit Suisse executive has today launched his own high-end investment management platform on the Ethereum Blockchain.
TEND, which describes itself as using “smart contract technologies to enable a new paradigm of shared ownership and enjoyment of unique assets that have both meaning and financial value,” will also launch an ICO.
Featuring Crypto Valley Association chairman Oliver Bussmann as advisor, the ICO token will be the first to share its structure with securities under Swiss law.
“Many people today are finding that there is more value in experience than ownership and that it is about access to fine things, not just possession of them,” ex-Digital Officer at Credit Suisse and TEND’s CEO Marco Abele commented in an accompanying press release.
“At the same time, conventional investments have become uninteresting for the modern generation. That makes meaningful, special assets increasingly desirable and hence valuable. TEND was born out of the opportunities presented by these two trends.”
The legal nuances of the project come at a time when Switzerland’s cryptocurrency industry is taking a hardline stance with regard to full regulation at the earliest possible time.
Bussmann’s Crypto Valley Association has developed a so-called ‘Code of Conduct’ for ICOs, hoping that the advancements in the Swiss regulatory space will ricochet throughout other jurisdictions.
“TEND’s forward-looking philosophy is reflected in our funding strategy,” Abele continued about his own sale.
“Token generating events are, we are convinced, the future of financing innovative new ventures like ours. We are very happy to be spearheading these developments.”
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