SettleMint supports KBC Bank in launching its blockchain-based Bolero Crowdfunding platform

LEUVEN, BELGIUM, November 15, 2023 /EINPresswire.com/ -- SettleMint, the Blockchain Transformation Company, is proud to announce its role in supporting KBC to extend its existing Bolero Crowdfunding platform into the blockchain world.

Bolero Crowdfunding was initially launched in 2014, making KBC the first bank insurer and online broker in the world to launch its crowdfunding platform. More recently, KBC has worked with SettleMint to overhaul the platform, integrating blockchain capabilities to enhance efficiency and scalability.

KBC’s objective was to incorporate blockchain technology into Bolero Crowdfunding as part of an optimization strategy that involved asset tokenization. SettleMint and KBC collaborated to turn this into a reality, using the full-stack capabilities of SettleMint’s Blockchain Transformation Platform to build and integrate the blockchain-enabled Bolero Crowdfunding platform.

“We are extremely proud to support continued innovation at KBC by bringing Bolero Crowdfunding from a web2 to a blockchain-enabled platform. This transformation complements a host of blockchain initiatives launched by KBC and we are proud to support the ongoing blockchain transformations at the bank,” said Matthew Van Niekerk, CEO and Co-Founder of SettleMint.

This significant upgrade included customizing the EIP-2535 Diamond Standard smart contract template from SettleMint’s platform to offer more flexibility than other smart contract standards and to serve two primary purposes. Firstly, this enabled the creation of tokenized bonds. Secondly, it facilitated atomic swaps for seamless cross-chain investments and coupon payments for securities tokenized on one blockchain and cash tokenized on a different blockchain.

“We incorporated blockchain technology into the Bolero Crowdfunding platform as part of an optimization strategy that benefits both entrepreneurs and investors. SettleMint enabled this transformation, seamlessly integrating blockchain capabilities into our existing workflows and systems. SettleMint also integrated our stable coin capabilities at KBC into the Bolero Crowdfunding platform to have both the cash and securities legs of transactions on chain for maximum efficiency gains,” said Steven Van de Sype, Commercial Director, Bolero.

You can find out more about SettleMint’s comprehensive Blockchain Transformation Solution, including all the services in the Blockchain Transformation Platform that powers Bolero Crowdfunding’s blockchain enhancements, by visiting: www.settlemint.com

About SettleMint:

SettleMint is the Blockchain Transformation Company that connects the dots between people, processes and technology to accelerate value creation with blockchain. It enables enterprises to easily and rapidly build and integrate blockchain applications, while empowering teams with the skills, knowledge, methodologies, guidance and ongoing support they need.

A key component of SettleMint’s Blockchain Transformation Solution is its Blockchain Transformation Platform, which enables IT teams to build and integrate enterprise-grade blockchain applications incredibly fast. It radically simplifies blockchain development by offering full-stack capabilities and advanced integrations that are fit for all use cases, making every developer a blockchain developer.

SettleMint is amongst a small group of blockchain firms that have been independently audited as SOC 2 Type II Compliant. Other compliance and security standards undertaken by SettleMint include the SOC 2 Type I, ISO9001 & ISO27001.

For further information, please contact: [email protected]

About KBC Group:

KBC is one of the leading financial groups in Europe. It is a multi-channel bank-insurance group with a geographic focus on Europe, catering mainly to retail clients, SMEs and local midcaps. The group occupies significant, and in many cases leading positions in its core markets of Belgium, Czech Republic, Bulgaria, Hungary and Slovakia. The KBC group has also selectively established a presence in a number of other countries and regions around the world.

KBC Group employs around 42000 staff and caters for about 13 million clients in its core markets. KBC Group NV is listed on Euronext Brussels (ticker symbol 'KBC').

Rod Spiteri
SettleMint
[email protected]
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