Bitbond, a peer to peer lending platform that recently completed a security token offering for a bond-like security (BB1), has said the token is now tradable.
In a tweet, Bitbond claimed the title of the first regulated EU security token to accomplish this feat.
It is a historical moment as Germany’s first EU compliant Security Token Offering has become trade-able 🏛🚀🇩🇪
— Bitbond (@Bitbond) July 25, 2019
While initial trades have been few, it is just the first day, and thus Bitbond provides a start to finish pathway for other digital assets to follow.
The Stellar platform describes the BB1 token as follows:
BB1 is a bond (tokenized security). Bond type: corporate bond. Seniority: subordinated unsecured debt. Industry: Finance. Country of issue: Germany. Issued on: 01-JUL-2019. Maturity: 01-JUL-2029. Fixed coupon: 4.00% p.a. (frequency: quarterly, first coupon date: 01-OCT-2019). Floating coupon: 60% of the pre-tax profit of Bitbond Finance (frequency: annually). Par value: 1.00 EUR. ISIN: DE000A2TR7Q2. ITIN: 8WR5-AKBG-X. All coupons and the repayment of BB1 are EUR denominated and paid in XLM to holders of BB1 at the time of a payment due date. Approved securities prospectus according to EU Prospectus Regulation: https://www.bitbondsto.com/files/bitbond-sto-prospectus-de.pdf Callable yearly: next call 31-DEC-2021 at 100%.
Since Bitbond completed its offering, two other BaFin approved STOs have been announced.
One, StartMark is a fund like offering to allow a diversified investment in early stage firms.
The other, is Fundament, a digital asset that is tokenizing real estate – seeking to raise €250 million. Anyone may invest in all of the above.
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