SeedOn , a Romania-based blockchain crowdfunding platform, has unveiled several new features to its wallet, SeedOn Finance, ahead of the upcoming launch of its equity crowdfunding platform. SeedOn Finance is in the process of transitioning into a fully functional launchpad capable of supporting flexible or locked staking, vesting, and a non-custodial wallet application to provide users with complete control over their crypto, as the company states.

In the wake of the FTX, Celsius, and other centralized exchange (CEX) crashes, investors are seeking secure ways to grow their crypto investments through which they control their private keys, and have flexibility over what they want to do with their crypto. With so many retail investors already losing their life savings in failed CeFi ventures, the demand for more decentralized finance (DeFi) services is expected to explode. The company’s development of its non-custodial SeedOn Finance wallet is meant to enrich the platform’s ecosystem by allowing users to control their own private keys, and therefore their crypto.

Users will have the opportunity to connect their SeedOn hot wallets to SeedOn Finance to purchase crypto with fiat money, with the funds being directly transferred to the non-custodial wallet. SeedOn Finance supports staking and vesting without having to make a deposit or withdrawal from the web app. Wallet users will also be able to swap tokens without making a deposit.

SeedOn’s platform wants to make the equity crowdfunding safer for investors and entrepreneurs alike by using the transparency provided by blockchain technology. The platform releases the raised funds in stages based on the achievement of specific milestones, returning remaining funds if a project falls short of any milestone. Projects looking to raise money on SeedOn undergo a three-step verification procedure before they are approved.

The native SEON token is the currency used in SeedOn’s ecosystem. Romania’s road to fintech evolution As we found out from our recent interview with Cristian Pasa, COO at Fagura, Romania is still a developing financial market. There is a legacy of preference toward traditional debt financing (e.

g. bank loans). That is coupled with a highly bureaucratic system and rigid policies that interfere with innovative entrepreneurship.

But the situation is improving: we now have world renowned financial technology providers, crypto and payment enthusiasts, and Open Banking aggregators. We can also see a more active stock exchange that attracts companies into equity financing. This coupled with the proliferation of venture capital funds and angel investor networks led to the creation of a gap in the Romanian capital markets: crowdfunding.

Up until recently, there was no dedicated crowdfunding regulation in Romania. It meant that companies willing to offer such services had to either register in other jurisdictions or find legal alternatives, many times at a higher cost. The EU Regulation 2020/1503 came into force to address this issue.

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