Dutch multipurpose vessel operator Shipping Company Groningen has launched a new blockchain-based investment platform to simplify ship investments for the masses. 

Low savings interests have spurred many people to actively search for alternative ways to grow their savings, the shipping company writes in a press release. ShipFund, as the platform is called, aims to provide such an alternative by offering simplified ship investments to the masses.

“Many other funds have too high barriers because of an unnecessary amount of risk and long term contracts. We believe we can offer something better, which is why we’ve made it possible to buy bonds and invest in the fleet of Shipping Company Groningen, ” the company states.

ShipFund uses blockchain technology for the registration of participation, storage of information and payments. The first bonds fund that will be issued through ShipFund is called ShipBond. Investors can buy bond tokens called Ships, which have a nominal worth of EUR 50 per token. These Ships have a duration of two years and an interest rate of 4.25%. The minimal investment amount is set at EUR 250.

Shipping Company Groningen manages a fleet of 40 multipurpose and heavy-lift vessels that operate worldwide.