SwissBorg

A utility token of the Swiss digital asset management platform, providing access to premium tiers (Premium ranks), participation in governance through the Guardians program, and the deflationary Protect & Choose mechanism. It was created to replace the CHSB token during a 1:1 migration on October 17, 2023. It operates on the Ethereum and Solana networks, ensuring broad compatibility and low fees on Solana. The platform aims to democratize access to investment tools by aggregating liquidity from major exchanges via its proprietary Smart Engine and offering products like Alpha vaults for early-stage venture investments.

The project was founded in 2017 in Lausanne, Switzerland by Cyrus Fazel and Anthony Lesoismier. The initial ICO of the CHSB token took place in December 2017 - January 2018 and raised approximately $50 million. In October 2023, a migration to the new BORG token occurred at a 1:1 ratio, with its smart contract based on the OpenZeppelin ERC-20 standard. SwissBorg operates as a non-custodial exchange aggregator, called a Meta-Exchange: the app connects via the Smart Engine to trading venues such as Binance, Kraken, LMAX, and HitBTC, ensuring optimal order execution without the need for the token to be listed on each individual exchange.

A key difference between SwissBorg and its competitors (e.g., Nexo and Crypto.com) is the absence of an internal credit department. Instead, the platform routes user funds to audited decentralized finance (DeFi) protocols such as Aave, Compound, and Curve, allowing for risk diversification and competitive yields. The platform has a solid regulatory foundation: membership in the Swiss self-regulatory organization VQF (recognized by FINMA), a VASP registration in Estonia, an AMF license in France, and registration with the UK's FCA. Since 2026, operations in the EEA have been fully aligned with the MiCA regulation; a MiCA-certified white paper for BORG has been published.

What Makes It Unique

Unlike many CeFi platforms, SwissBorg did not go bankrupt in 2022 (unlike Celsius Network or Voyager Digital), which strengthened community trust. The BORG token serves not only a utility role (fee discounts, enhanced yields) but also grants voting rights in the Guardians program, which quarterly determines the amount of token burns and the allocation of ecosystem funds. This makes the deflationary model democratic and transparent.

SwissBorg Features

Technical Information

The token exists on two base networks: Ethereum (ERC-20, contract 0x64d0f55Cd8C7133a9D7102b13987235F486F2224, Solidity 0.8.16, verified) and Solana (SPL, mint 3dQTr7ror2QPKQ3GbBCokJUmjErGg8kTJzdnYjNfvi3Z, launched in May 2024). Ethereum uses the Gasper consensus (LMD-GHOST + Casper-FFG) with finality typically reached after 64-95 slots (approximately 13-19 minutes) post-The Merge (September 2022); slots are 12 seconds. Solana uses Tower BFT based on Proof of History, with slots of ~400-600 ms and finality of ~12-15 seconds. Cross-chain transfers utilize the Wormhole Native Token Transfers (NTT) bridge, which has undergone separate audits. The BORG and migrator smart contracts were audited by Hacken with a score of 10/10. Liquidity pools, including BORG/bSOL, have been deployed on Solana.

Tokenomics

The maximum supply is fixed in the MiCA white paper at 981,853,000 BORG. According to Etherscan, the minted volume (Max Total Supply) is slightly lower at 981,352,443.442 BORG, reflecting burns that have occurred. The issuer, SBorg SA, disclosed a remaining balance of 121,017,999 BORG (Section G of the white paper). There are no vesting or lock-ups from the issuer; users voluntarily lock tokens within the app to obtain Premium statuses. The deflationary mechanism is implemented through the Protect & Choose program: quarterly, token holders locked in the Guardians system vote on fund allocation - a portion is directed to burning, a portion to the safety net, rewards, or ecosystem projects. Additionally, fees in the app, charged in fiat currency or stablecoins, are converted into market buybacks of BORG (cashback), which also exerts deflationary pressure.

BORG Security

The BORG and migrator smart contracts underwent an audit by Hacken OÜ (report dated August 22, 2023, score 10/10). The Wormhole NTT bridge infrastructure, used to connect Ethereum and Solana, was audited by four firms in March 2024: Cyfrin and Cantina for EVM, OtterSec and Neodyme for Solana. SwissBorg deployed unmodified audited versions. At the platform level, an incident is known from September 2025: a hack of the API of partner Kiln led to a loss of approximately $41.5 million in SOL from the Solana Earn program. SwissBorg paused staking, issued a joint statement with Kiln, and launched a support program for affected users. It is emphasized that the core BORG contracts and SwissBorg infrastructure were not compromised. SwissBorg also regularly publishes proof-of-reserves (proof-of-liabilities) on a separate portal. A public bug bounty program was not found at the time of this review.

Exchanges Where It Is Traded

CEX exchanges: Bilaxy.

DEX exchanges: Orca, Raydium (CLMM), Uniswap V2 (Ethereum), Meteora DAMM V2, Raydium, Matcha (Ethereum).

Trading venues where BORG is listed include Bitfinex, HTX, MEXC, Gate.io, as well as the decentralized exchange Uniswap V3 on Ethereum. Within the app, the Smart Engine aggregates liquidity from Binance, Kraken, LMAX, and HitBTC, allowing users to get the best prices without direct listing on each platform. In December 2024, Bitfinex discontinued support for BORG.

Listings on Aggregators

• CoinGecko rank: 202
• CoinMarketCap rank: 225
• Finkonkurs rank: 192

Investors and Funds

SwissBorg did not attract traditional venture capital investments from major funds (a16z, Paradigm, etc.). Primary funding came from the community: the CHSB token ICO (December 2017 - January 2018) raised approximately $50 million (CHF 52 million) at a token price of $0.1. In March 2023, a Series A round was conducted in the form of community equity: $23 million (CHF 21.27 million) was raised from 16,660 investors, with a company valuation of CHF 223.14 million. Among the institutional participants mentioned is the Swiss ICT Investor Club. No additional rounds, IDOs, IEOs, or airdrops have been recorded.

Key Partnerships and Ecosystem

The SwissBorg ecosystem includes several significant integrations. Mastercard - a partnership for issuing a cryptocurrency debit card (announced in February 2026, virtual launch in Q1 2026, available in the EEA and Switzerland, allowing spending crypto at over 150 million merchants). Base was added in January 2026 to expand liquidity and access to Base-native tokens. Hedera Hashgraph - integration for corporate infrastructure. Stake.link - a strategic partnership announced in January 2025. In May 2024, an exclusive investment club was organized jointly with Kevin Follonier (When Shift Happens podcast). Integration with the Naturklang platform for paying for tickets with cryptocurrency has also been implemented. On decentralized exchanges, BORG is present in pools on Uniswap, Raydium, PancakeSwap, and Aerodrome.

Potential

The growth in BORG's value is directly linked to the increase in SwissBorg's user base and assets under management (AUM). The buyback mechanisms (cashback and Protect & Choose) create constant deflationary pressure, provided the platform's fee income grows. Multi-chain expansion (Solana, Base) broadens the audience and reduces transaction costs. The Alpha vaults product opens access for retail investors to early-stage startup funding, previously a privilege of venture capital funds, and could attract a new audience. Full compliance with MiCA regulations and licenses in key European jurisdictions provide an advantage in the tightening regulatory environment. The community actively participates in governance, fostering loyalty and long-term token retention.

Risks [Identified by the Finkonkurs AI Analytics System]

• Regulatory Risks: Operations in the EU and UK are subject to MiCA, FINMA, and FCA requirements. Changes in legislation or license revocation could limit the token's functionality. The US remains a closed market, reducing the potential client base.
• Utility Concentration: Most of BORG's benefits are realized only within the SwissBorg app. If the platform loses popularity or faces technical issues, demand for the token could decline.
• Operational Incident: The SOL leak via Kiln in 2025 demonstrated the vulnerability of partner integrations. Although the platform's core was unaffected, reputational damage and potential lawsuits remain a risk.
• Liquidity and Listing: Delisting from Bitfinex (December 2024) reduced presence on centralized exchanges. Trading volume on CEXs may be insufficient for large orders.
• Competition: Direct competitors (Nexo, Crypto.com) have broader exchange support and brand recognition. The emergence of new regulated platforms could attract some clients away.

Related Individuals

• Cyrus Fazel - Co-founder and CEO. Of Iranian-Swiss-German descent, lived in the US. Before SwissBorg, worked in fintech and asset management. Known for public speaking at crypto conferences.
• Anthony Lesoismier-Geniaux - Co-founder and CSO. Previous experience includes positions as Head of Financial Market Digital-Advisory, Sales Trader for exchange derivatives and ETFs, and Head of Digital Advisory at JFD Wealth. Has extensive experience in traditional banking.
• Nicolas Rémond - CTO. Responsible for the platform's technical development.
• Jeremy Baumann - CFO, formerly Head of Finance at SwissBorg.
• Christophe Diserens - Chief Wealth Officer / CBDO.
• Alex Fazel - Chief Partnership Officer.
• Alexander Petoud - Chief Commercial Officer.
• Marco Guerreiro - Chief Research Officer.
• Micha Roon - Smart Contract Expert.

The issuing legal entity is SBorg SA (CHE‑198.086.882), registered at Rue du Grand‑Chêne 8, 1003 Lausanne, Switzerland. For EU operations, a French subsidiary, BlockNodes SAS, was established, holding AMF license A2026‑011 (custodial services, portfolio management, transfers).

Contests, Activities, and Hackathons on Our Platform

No contests, hackathons or marketing activities for this token have been published on Finkonkurs yet. New activities will appear here automatically once the team or partners launch them.

WhitePaper

The WhitePaper was published in the form of a MiCA-certified document on June 19, 2026. The home state is France (AMF), identifier DTI B7J7BBMGQ. The document specifies the maximum issuance volume, the status of a utility token according to Article 3(1)(9) of Regulation (EU) 2023/1114, a description of the Protect & Choose mechanism, Governance Guardians, and information about the issuer.

Link: Whitepaper (PDF)