Wevest, a Berlin-based fintech company which offers digital banking and financial services to small and medium sized enterprises (SME’s), has just announced its decision to use the Stellar blockchain for its upcoming security token services.

According to a press release, wevest aims to leverage Stellar’s protocol to make its transactions more secure and efficient, and lower the barriers to entry for smaller enterprises to gain access to investment. Often times, small businesses in emerging markets like the cannabis industry struggle to find banking partners, but finance-centered blockchain startups can bridge that gap.

wevest chose Stellar as the best-suited blockchain for the financial services industry, allowing smart contracts that are less error prone than those of other blockchains. It also facilitates off-chain operations such as KYC/AML, which are necessary for security offerings.

Didier Goepfert, Head of Product at wevest insists that Stellar was the ideal candidate to support its upcoming security token services. Says Goepfert:

Blockchain certainly has the potential to make massive changes to antiquated financial systems, and disrupt global superpowers. However, the truly transformative quality of blockchain is its power of inclusion. Through partnerships like Stellar and wevest, small businesses will soon have access to financial and investment resources to rival titans in their respective industries.

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