Announced during the Security Token Summit in Bermuda this week, tribeOS said its “digital security offering” FIRE has received regulatory approval under Bermuda’s young ICO Act (2018).
tribeOS is described as a blockchain-based digital advertising marketplace designed to help advertisers and publishers run secure, fraud-free campaigns online.
FIRE is an equity token where investors participate in revenue sharing in tribeOS. The token also allows holders to receive dividends based on the funds spent on the platform and the overall success of tribeOS. The Fire token has a stated share price of $0.097 and a market cap of $97 million.
James Wallace, co-founder of tribeOS, sees their offering as ushering in a “new era and creates a framework for startups to tokenize and gain traction in the new digital asset economy.”
Apparently, Bermuda plans to further expand its role in the digital asset world while continuing to apply its legacy of regulation to tokenized assets. FIRE is perhaps the first of digital asset offerings.
In April 2018, Bermuda signed an MOU with Binance to help foster a blockchain friendly ecosystem. Reportedly, Binance also invested $15 million in Bermuda.
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