STO: Neufund Receives Clearance from Financial Monetary Authority in Liechtenstein, Offers First Compliant Blockchain based Offering to Retail Investors

Security token offering (STO) platform Neufund has received regulatory clearance from the Financial Monetary Authority (FMA) in Liechtenstein to offer securities to retail investors. 

The first retail issuer on Neufund is Greyp, an electrical mobility platform that is backed by Porsche, Camel Group and T-mobile. Neufund states that it is a sister company of Rimac Automobili, a car manufacturer founded by Mate Rimac, the “Elon Musk” of Europe.

Previously, Germany-based Neufund completed an STO of its own equity. This offering was only available to sophisticated investors but it was the first in Europe to complete a security offering via a blockchain platform.

Co-founder and CEO at Neufund Zoe Adamovicz said today Neufund delivers on its promise to democratize access to funding for entrepreneurs globally and enable anyone to access most innovative investment opportunities with ease, in a compliant and secure environment.

“It’s a big day – not just for Neufund, but business and finance communities at large,” said Adamovicz.

Adrian Hasler, the Prime Minister of Liechtenstein, said he was pleased that Neufund had selected Liechtenstein:

“This shows that Liechtenstein, with its open attitude towards new technologies, is perceived as an attractive location for innovative business models.”

On September 16, Neufund’s management introduced retail-grade public offerings for tokenized equities.  Minimum ticket sizes are 10 euros. US investors may participate in the offering but they must be accredited.

The Neufund protocol has been developed on the Ethereum network. It features customized smart contracts that were created by a team of in-house developers. 

The company’s official website explains that investing in most types of equity instruments requires completing extensive paperwork and dealing with multiple intermediaries. Voting or claiming dividends requires that investors are physically present. A lawyer and a bank are also needed in order to finalize investments.

However, Neufund aims to simplify this process by allowing its clients to interact with their equity whenever they’re ready. The platform’s users can claim dividends, vote on resolutions, and review information through Neufund’s intuitive online interface.

Neufund reports that €16 million has already been deployed through its platform and more than 5 thousand investors have signed up since launching in May 2018.

A public offering for Air Profile, a new patented technology for detecting precise wind speed, will also be launched soon.

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