Digital Securities
BaFin Approves Germany based STO Platform by Black Manta Capital
Licence Approval
In a process that took roughly 9 months, Luxembourg based, Black Manta Capital, was awarded licensure to operate an STO platform within Germany. This licensure was provided by regulatory body, BaFin.
This development moves the company one step toward their self-described mission of setting “a global standard for Security Token Offerings (STO).”
In their release, the company hinted towards a launch date, stating,
“The operative start of the investment platform with the first Token Offerings is planned for early Q4/2019.”
STO Platform
The approval received allows for Black Manta Capital to offer clients services surrounding security token offerings. Black Manta Capital has indicated that they intend for this platform to function as a comprehensive offering – meaning that they will provide clients all the necessary services from start to finish, through the tokenization process.
The act of tokenization involves selling, creating, and distributing digital securities which represent ownership of a variety of assets. These assets may range from cars, to art, to equity within a company, and anything in between. As these digital assets are securities, their creation and distribution is only possible when adhering to laws enforced by typical regulatory bodies, such as BaFin.
The Competition
The STO platform to be offered by Black Manta Capital is expected to face stiff competition, as Europe is quickly becoming a hot bed for companies with similar ambitions. The following are a few of those expected to fit this role.
Commentary
Upon making their announcement, Managing Partner of Black Manta Capital, Christian Platzer, took the time to comment. The following is what he had to say on the matter.
“Tokenization in the core financial field of securities will – for sure – bring paradigmatic change to the global financial markets.” – “While Black Manta Capital Partners want to be ‘boutique’ in its beginnings and run ‘handpicked’ STOs only, our strategy is global from day one: the first step is to link Europe and Asia on one blockchain-based investment platform. Therefore we look already today into Singapore.”
Black Manta Capital
Black Manta Capital is a young company which specializes in tokenization services. Operating out of Luxembourg since 2018, the company has plans for eventual expansion across various continents.
Managing Partners, Christian Platzer and Alexander Rapatz, currently oversee company operations.
BaFin
BaFin is a leading financial supervising authority across Europe. With over 2,600 employees, this regulatory body oversees a variety of industries ranging from finance, to banking, insurance, and more.
The organization has been operational since being founded in 2002.
In Other News
Today’s announcement is not the first time that BaFin has provided licencing to outfits partaking in the digital securities sector. The following articles demonstrate a pair of other companies that have also been successful in this respect.
BitBond Gains Approval of BaFin to Host Security Token Offering
Fundament Group to Issue €250 Million in Security Tokens backed by German Real Estate
