BlockState, a new Switzerland based tokenization platform, has announced the first security token offering (STO) from Berlin-based Streetlife International.
BlockState is an online capital formation platform for privately owned assets. The company says it will tokenize assets under existing Swiss regulation.
The first STO is for equity in Streetlife International which is described as the “No.1 European independent music, lifestyle, and events promoter in R&B and Hip-Hop.” The offering is scheduled to go live in the second half of 2019. The company believes that tokenization can “lower costs and execution speed of digital asset issuance compared to traditional market infrastructure.”
BlockState claims to the offering will be a “first for European non-crypto or Blockchain-related companies working with an STO platform like BlockState to realize their fundraising goals.”
“We will be announcing further clients from diverse geographies and asset classes very soon, including bond and real estate tokenizations for issuers from all over the globe. This is not only an important turning point for BlockState, but it shows the significance of tokenization for the fundraising market beyond the crypto and blockchain ecosystem.”
BlockState was founded 2018 in Zug, Switzerland and has offices in Berlin, Germany. The company says it is a fully compliant fundraising platform providing an end-to-end Security Tokenization service. On its website, BlockState displays an impressive list of professional advisors.
BlockState reports that it will tokenize and issue its own company equity to investors globally at some point in 2019.
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