Swiss company Ephelia Capital has taken a majority stake in London-based financial asset streaming fintech startup Streamable Finance.
Lugano-headquartered Ephelia Capital says it will now control 80% of Streamable Finance and aims to boost its growth through new investors and partners coming on board. The Swiss firm has an interest in alternative investments and is a Crypto Valley Association member.
Streamable Finance was founded last year. It allows users – people or companies – to stream financial assets on the blockchain such as currencies and securities. The idea is to let users swap and stake them to potentially earn fees and rewards.
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Franco Mignemi, Chairman of Ephelia Capital, explains: “Streamable Finance’s technology is truly game-changing with its vast multi-application use and strongly aligns with our aim of making investment and payments faster, easier, safer and more accessible.”
Streamable Finance’s website is in beta mode at the time of writing. On LinkedIn, it has only one employee listed, which is Michele Tegon, its CEO.
The UK fintech company provides its protocol, known as StreamPay. Tegon says the plan is to make this a compliant solution that is interoperable with the banking system.
According to the companies, money streaming is the continuous flow of payment over time enforced by a smart contract on the blockchain. Streamable Finance allows senders to set up real-time streams of money (or a tokenised asset) to a recipient wallet to enable payments by the second.
In theory this stream dream is suitable for one-off payments, subscriptions, allowances and payroll. It also means people or companies can work or spend “without needing to wait for incoming payments or needing working capital”.