<a href="https://swisstronik.com/" target="_blank" rel="noopener noreferrer nofollow">Swisstronik</a>, a layer-1 network focused on user privacy and regulatory compliance, has announced the close of its $5 million seed funding round, and the launch of its private token sale. 
<h2 class="wp-block-heading" id="swisstronik-closes-seed-funding-round">Swisstronik closes seed funding round</h2> 
After a successful seed round, Swisstronik intends to utilize the funds for team expansion, technology development, and the planned 2024 launch of its mainnet. 
Simultaneously, they have initiated a private token sale, providing individuals and businesses with an exclusive early investment opportunity to secure SWTR tokens required for accessing the Swisstronik Network ahead of the public launch. 
 You might also like: <a href="https://crypto.news/malta-takes-next-steps-to-align-with-eus-mica-regulation/" rel="noopener noreferrer nofollow"> Malta takes next steps to align with EU’s MiCA regulation </a> 
Swisstronik has already closed on its first deal in the ongoing private token sale, with MAQ Capital Home, a UAE-based venture capital represented by Mohammed Abdul Qadir Jihad. This led to MAQ Capital Home acquiring $500,000 worth of future SWTR tokens, which would allow the VC to engage with and contribute to Swisstronik’s ecosystem. 
Swisstronik’s private token sale is scheduled to run until mid-2024, followed by the public sale of SWTR in the second half of the year. 
<h2 class="wp-block-heading" id="team-and-roadmap">Team and roadmap</h2> 
Swisstronik’s main goal is to create a user-friendly and secure network that addresses key issues like legal compliance, data privacy, and compatibility. It aims to be the top choice for developers while emphasizing privacy and decentralization. 
 You might also like: <a href="https://crypto.news/blockchain-capital-secures-580m-funding-for-defi-and-crypto-gaming-ventures/" rel="noopener noreferrer nofollow"> Blockchain Capital secures $580m funding for defi and crypto gaming ventures </a> 
The Swisstronik management team, consisting of Valerii Brizhatiuk, the chief product officer; Mike Antonuk, the blockchain team lead; Constantin Guggi, the chief executive officer), and Anton Polianski, the chief operating officer, brings significant blockchain experience dating back to 2016. 
Guggi and Polianski began their crypto journey with a private crypto mining venture valued at $2.5 million. They later ventured into the communications sector, contributing to projects such as the $200 million Tawasal Superapp in the UAE. 
Swisstronik’s future roadmap includes the launch of its mainnet in 2024, followed by a decentralized messenger, distributed authorization system, corporate decentralized oracles, and assets tokenization suite in 2025. 
These developments aim to position Swisstronik as a cost-effective compliance management tool for web3 projects, potentially reducing regulatory challenges. 
 You might also like: <a href="https://crypto.news/swisstronik-launches-testnet-announces-70k-bug-bounty/" rel="noopener noreferrer nofollow"> Swisstronik launches testnet, announces $70k bug bounty </a> 
 Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Swisstronik raises $5m in seed round, launches private token sale

Table of Contents

crypto.news

Other articles published on Sep 18, 2023

Examining Binance’s Impact on Bitcoin’s Price Decline

Unveiling the first-ever WOOFi x Orderly NFT

SEC Challenges Binance US's Objections in Latest Court Motion – Here's What You Need to Know

Hong Kong Police Arrest Influencer Amid JPEX Probe As Exchange Halts Trading Activities

Bitcoin Stocks Teeter on the Brink as Death Cross Pattern Emerges

Deutsche Bank to secure crypto for institutions, TRX and DOMI may find support

Join our free newsletter for daily crypto updates!