Blockport, a social crypto exchange, plans to launch its Security Token Offering (STO); the first round issued through Tokeny will take place on 15 April with the goal of raising EUR 5M from investors in both Europe and the United States. The round is part of Blockport’s wider strategy to raise between EUR 15M and EUR 30M in multiple stages.
“We’re working with Tokeny since they’re one of the leading issuance platforms in the industry and one of the few that have helped multiple companies successfully issue security tokens,” indicated Kai Bennink, Blockport Founder & Chief Strategy. “Besides the technical side, Tokeny has a strong partner network and they can connect us with all the necessary parties needed to issue a complaint STO.”
The security token, Blockport Securities (BPS), represents a depositary receipt or certificate for a corresponding share and entitles holders to applicable dividends payments. Blockport said that BPS will be the first compliant STO targeting retail investors in Europe. The tokens will be issued using Tokeny’s T-REX (Token for Regulated Exchanges) standard. BPS can be purchased with EUR, USD, BTC and ETH.
“One of the key benefits of tokenized securities is that when compared to traditional methods, they bring private opportunities to a significantly wider pool of investors. The Blockport offering is truly cross-jurisdictional, and will allow retail and qualified investors from the European Economic Area and accredited investors from the United States to participate,” observed Tokeny CEO Luc Falempin. “This opens up the opportunity for Blockport to access new investors and the potential for a worldwide investor base.”
Amsterdam-based Blockport will issue their token in the United States under Rule 506(c) under Regulation D of the United States Securities Act of 1933 to accredited investors and a separate offering to investors in Europe and other participating countries.
Blockport views the STO as “symbolizing Blockport’s ambitions to expand into the United States and further solidify its position in Europe.”
Luxembourg-based fintech compliant tokenization platform Tokeny recently partnered with global law firm DLA Piper. Hedera Hashgraph recently cited DLA Piper as first members of the Hedera Hashgraph Governing Council, a group which guides changes to the software run by Hedera distributed nodes over time.
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