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BitBond Gains Approval of BaFin to Host Security Token Offering

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BitBond Gains Approval of BaFin to Host Security Token Offering

BitBond STO

BitBond has recently announced that they have been granted approval by the German regulator, BaFin, to host the first STO under their watch. This announcement has been in the works for a long time, ever since receiving their licence through BaFin in 2016.

This fund raising event is being undertaken in an attempt to continue developing at pace, allowing for BitBond to remain leaders in their sector.

The Finer Details

The Token sale will see the company attempt to raise up to €100 million – with a minimum of €3 million. The digital securities to be distributed through the sale will be known as the BitBond Token, or ‘BB1’.

For those interested in investment, token holders are entitled to various benefits. These include quarterly interest-based dividends, totaling 4% per year. The investment is intended to be a ten year venture, with tokens being bought back at €1 each upon maturity.

The token itself is based off of the Stellar blockchain. The BitBond team indicated that after tokens are distributed, secondary market trading will commence on decentralized exchanges. The ability to do so will afford token holders with liquidity typically seen when dealing with securities.

Commentary

When speaking with CryptoNinja recently, CEO, Radoslav Albrecht, commented on the development discussed here today. The following is what he had to say on the matter.

“We are the first regulated blockchain company to set new standards. It is important for us to show investors who trust our platform that we act according to transparent rules.”

BitBond

The overall mission of BitBond is to utilize blockchain technology to create an efficient and frictionless financial platform. To date, this has taken shape primarily as a platform which facilitates business loans for small and medium enterprises (SMEs).

Company operations are spearheaded by CEO, Radoslav Albrecht. Drawing upon experience gained as a professional trader and advisor, Albrecht and his colleagues have seen their company grow to the point of issuing over $1 million in loans per month.

Bitbond: Get to know us!

BaFin

BaFin is a European based financial supervisory authority. They service various sectors, ranging from insurance, to banking, and of course, securities. In doing so, the company employees north of 2,600 employees – making it one of the largest regulatory bodies of its type.

In Other News

This STO marks just one in a growing list of ‘firsts’. Only recently, we spoke about Wakelet, as they become the first STO to be hosted in the UK. As more regions clear this hurdle, and begin welcoming such events, the rate of adoption will only continue to grow. Check out the article below to learn more about the Wakelet STO.

Wakelet Announces STO with AmerX

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Joshua Stoner is a multi-faceted working professional. He has a great interest in the revolutionary 'blockchain' technology. In addition to this, he is a licenced Paramedic in Nova Scotia, Canada. As such, he can provide emergency care/medicine to any situation necessitating it.

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