Zurich-based FinTech FQX announces the incorporation of two subsidiaries in Hong Kong and Singapore. The startup’s presence in Germany has also been recognised with Frankfurt Financial center’s Fintech Germany Award in the Foreign Entrant into the German Market category.
FQX AG digitises globally used yet still paper-based promissory notes by providing the first market-ready solution for eNotes, a disruptive short-term financing and payment instrument built on an unconditional promise to pay a specific sum to another party on a specific future date. The eNote is based on Blockchain technology and can be flexibly sold and transferred to any third party (i.e. an investor).
eNotes is built on a banking-grade Blockchain (Swiss Trust Chain) with a unique, patent-pending authentication mechanism. Its infrastructure can be integrated into financing platforms of banks and Fintechs, allowing their customers to benefit from the entire eNote lifecycle from issuance to settlement. The enforcement regime applicable to eNotes is recognised in over 165 countries.
Having built potentially one of the world’s most powerful financing and payment instruments, FQX is now expanding its reach in the Asian markets. It has established two subsidiaries in Hong Kong and South Korea, with Benjamin Treves as Head of Asia Pacific appointed to build out a network of customers and create tailored solutions suitable for the different markets of Asia.
Treves has 15 years of experience in project and export finance in Asia Pacific. Before joining FQX, he was a Director in the Real Asset Finance team of HSBC in Hong Kong, where he was responsible for originating and executing export finance transactions in Southeast Asia. During his time at HSBC, he led some innovative pioneer and market-first financing transactions across Southeast Asia. He recently graduated with high honours with a Master of Business Administration from the University of Chicago Booth School of Business.
Foreign Entrant into the German Market category prize
The startup set foot into the German market with its core team and an ongoing partnership with the EBS Universität für Wirtschaft und Recht, Germany. Recognising its activities, Frankfurt financial center – today represented by FTGA organisers Frankfurt Main Finance, TechFluence and WM Gruppe/Börsen-Zeitung, bestowed a prize onto FQX for winning the Foreign Entrant into the German Market category of the Fintech Germany Award 2021.
Founded in 2019 by Frank Wendt, Benedikt Schuppli, Stephan D. Meyer and Philipp von Randow, FQX also has an office in London.
(Press release/RAN)
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