February 25, 2021

BOTS opens offices in Switzerland and Singapore

BOTS is committed to a licensing model for Europe and Asia.

BOTS opens offices in Switzerland and Singapore
BOTS opens offices in Switzerland and Singapore

The Dutch scale-up BOTS adapts its business model: From 'doing everything yourself' to licensing model for faster growth.

"The growth of BOTS is going so fast that we could move to a new model that will shape the growth even more efficiently." Says Michiel Stokman, CEO and co-founder of BOTS. The license-oriented internationalization goes hand in hand with strategic partnerships with financial institutions from both Europe and Asia. Stokman on the licensing model: "It's not that we exclude other growth models, in addition to autonomous growth and joint ventures, we see that the licensing model is currently rich in potential. Through our admission to the Techleap Rise programme and our own network of over 1750 certificate holders, we are also actively approached by foreign partners to collaborate. Our product is an expansion on their existing services and they are concretely helping us with their licenses."

The Netherlands not ideal for innovation

Offices in Switzerland and Singapore are already open. "We notice that the regulators in Germany, Switzerland and also in Israel, Singapore and the United States have a more open and innovative attitude towards decentralized finance, crypto and blockchain than in the Netherlands. In the Netherlands, we talk the talk, but we don't see enough guts on the part of the financial institutions to push through innovation. By establishing ourselves globally, our innovations can grow safer and faster. In addition, we see that only outside the Netherlands are there financial institutions with the vision and know-how to match our goals.

The BOTS office is a logical step, according to Stokman. "With over 2 billion potential users of the BOTS app, it's a logical step for us to establish ourselves in Asia. Asia is where the fastest growing markets are, where the market is the most competitive and probably the most interesting."

The BOTS trading platform makes fair financing possible for all people on all continents of the world. It empowers the middle class. BOTS provides everyone with reliable sources of wealth by bringing people, technology, fun and innovation together in an app that transforms the service industry and society.

BOTS has a huge focus on security and information literacy. BOTS expects that in the area of security and trust, the financial world will face a turbulent and instructive time. Many banks and other institutions live in a paper world with paper-based security, but that is not enough these days. Real security is what counts. In the end it is the trust of the customer which determines everything and that trust is harder to obtain and is disappearing faster than ever.