Jun 1, 2022
FQX Brings Companies’ Debt Funding to the Blockchain
We want digital debt to be registered, issued, transferred, and eventually traded on our infrastructure.
Benedikt Schuppli, Co-Founder and Co-CEO of FQX
Executive Summary
FQX is a Zürich, Switzerland-based fintech with great aspirations. They want to digitize company debt and this digital debt to be registered, issued, transferred, and eventually traded on their infrastructure.
Promissory notes are known around the financial world. These instruments are fairly standardized. So, if you put this on a blockchain, you have an extremely powerful financing tool.
Benedikt Schuppli, Co-Founder and Co-CEO of FQX
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We believe, that in the future, a company will only have one basic financing instrument, a digital blockchain-based IOU. … That is what we offer with our eNotes
Benedikt Schuppli, Co-Founder and Co-CEO of FQX
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Much of the financial world is more complex than it needs to be. We believe in simplicity, decentralization, and digitalization.
Benedikt Schuppli, Co-Founder and Co-CEO of FQX
The Video Interview is set to go live on Thursday, June 2nd, 2022
Sorry, there was a technical glitch and we had to re-upload again. We are sorry about that.
The Audio Interview
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The Founder
This time we interview Benedikt Schuppli (https://www.linkedin.com/in/benedikt-schuppli/), a founder from Switzerland. He is the co-founder and co-CEO of FQX (https://fqx.ch/), a fintech startup from Switzerland offering electronic IOUs. Benedikt is a lawyer by training but took his first job after graduating with a Swiss fintech pioneer named Lykke as Chief Legal Officer. He there realized he wanted to be an entrepreneur and co-founded a smart contract startup called Lexon.
The Startup
FQX (https://fqx.ch/) is a blockchain startup based in Zurich, Switzerland. Their primary offering is the eNote. An eNote™ is an unconditional promise to pay a specific sum to another party at a specific future date and can be modularly structured to fit any financing purpose. The eNote™ is based on blockchain technology and can be easily transferred to any third party (i.e. an investor). When compared to other financing tools, eNotes™ excels through its modularity and global transferability, based on a standardized legal framework. With this, eNotes can improve CeFi and DeFi-lending. Single eNotes are stored as NFTs on a blockchain. By issuing multiple eNotes as SFTs, an issuer can obtain financing in a way comparable to commercial papers. With this, they have set their sights on the 100 trillion US$ global bond market.
Venture Capital Funding
Investors now include Earlybird Ventures, SIX FinTech Ventures and several business angels. They have raised 6.7 m US$ so far.
The startup is looking for another fundraising in 2022 — at the time of the interview (March 2022).
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Further Readings / Additional Resources
Lombard Credit https://en.wikipedia.org/wiki/Lombard_credit
Money Market https://www.investopedia.com/terms/m/moneymarket.asp
Collateral https://www.investopedia.com/terms/c/collateral.asp
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The Interviewer
This interview was conducted by Jörn “Joe” Menninger, startup scout, founder, and host of Startuprad.io. Reach out to him:
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