Tokenise, a UK based security token offering platform which is regulated by the Financial Conduct Authority, has announced the issuance of their first STO – KABN. The company is a Gibraltar based financial service platform that is developing a suite of financial service products. These include a “blockchain based, GDPR compliant, ‘Always On’, global identification, KYC and AML support service for investors and clients.”
In a release, Tokenise explained that KABN will be offering “neo banking type solutions.” Additionally, KABN has received approval by Visa to launch a crypto-linked card and banking wallet program.
KABN has partnered with European e-money institution Transact Payments Ltd and global processor GPS and platform technology provider Pannovate, to launch the program in the UK. At some point in Q2, KABN intends to provide services across the EU.
The KABN Visa card will offer a conversion process from crypto to fiat. Branded as the Pegasus Flyte Visa card, the card will be accepted everywhere Visa may be utilized including ATMs, online and in stores.
CEO of Tokenise Mike Kessler said they are delighted that KABN has chosen to issue its equity token through their platform.
“Not only does this endorse the Tokenise model, it will also be amongst the first issuance of an equity token on a global basis, paving the way for the emergence of a new future in tokenised securities.”
The STO is scheduled to be available for investors in April.
Michael Konikoff, Chief Revenue Officer KABN, said the KABN token will be an effective way for their stakeholders to join in their success.
“[They will] benefit from the potential opportunity and liquidity that the Tokenise platform intends to provide to investors.”
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