Block Commodities and FinComEco partner with Swarm
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Block Commodities and FinComEco partner with Swarm 14 May 2018London Reporter: Jenna Lomax
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Block Commodities and Financial and Commodities Ecosystem (FinComEco), a subsidiary of GMEX Group, are partnering with Swarm Fund (Swarm).
Swarm is a platform built on blockchain technology for private equity.
The new partnership will provide an investment opportunity via the listing of FarmCoin Venture, an asset-backed investment coin, to help develop a pan-African financial and commodities ecosystem.
Under the terms of the agreement, investors will be able to participate in the FarmCoin via Swarm’s fully regulated marketplace.
The FarmCoin Venture is a joint initiative between FinComEco and Block Commodities to support growth of its agriculture-focused ecosystem.
Investors who participate in Swarm’s marketplace will purchase FARM tokens, representing fractional ownership in the FarmCoin infrastructure.
Chris Cleverly, Block Commodities’ executive chairman, said: “FarmCoin will give investors not only a unique investment opportunity in one of the prime unbanked global markets, but also the chance to lend a helping hand to improve the lives and opportunities of Africa’s poorest farmers.”
He added: “Support from Swarm Fund allows Block Commodities and FinComEco to make real progress on these goals, enabled by blockchain technology.”
Philipp Pieper, CEO and co-founder of Swarm, commented: “This puts Swarm in one of the most exciting places for crypto: ground zero for much of the world’s unbanked. Our strategy is based on using our unique ecosystem to create real value for hundreds of millions of people, enabling them to trade responsibly with an objective of increasing income for farmers, to deliver economic security across Africa.”
He added: “Blockchain and smart contract investments like FarmCoin enable market inefficiencies such as corruption, market access and perception-based debt costs to be removed.”
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