London FinTech Streamable Finance has been taken over by a Swiss financial hub for professional investors, entrepreneurs and financial institutions.
Ephelia Capital will now control 80% of the company and support its rapid growth through new investors and partners coming on board.
Streamable Finance allows users to stream financial assets on the blockchain such as currencies and securities and thus swap and stake them in order to earn fees and rewards.
The deal, which closed last week, is part of Ephelia’s ongoing investment strategy and commitment to the DeFi and digital asset space.
Franco Mignemi, chairman of Ephelia Capital, said: “Technology is at the heart of our operation at Ephelia.
“Financial asset streaming opens many opportunities for efficiencies and growth, and our investment in Streamable Finance will help us achieve just that.
“We have been hugely impressed with the massive potential of the Streamable Finance platform and specialised knowledge of the team.
“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.”
‘We’re missing a trick’: Tory politicians call for UK to embrace crypto
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.
Suitable for one-off payments, subscriptions, allowances, payroll and more, people, or companies, no longer need to wait for incoming payments or working capital and can watch their balance in real-time.
Michele Tegon, CEO of Streamable Finance, added: “Programmable money and securities is the future of banking.
“With the strong backing we have in Ephelia Capital, we will be able to accelerate further the progress of both the StreamPay protocol and Streamable Finance towards a fully compliant solution seamlessly interoperable with the banking system.”