Just today, blockchain based crypto exchange, Blockport, has announced their intention to host an upcoming security token offering.
This offering is expected to take place beginning in March, and to be held on the Tokeny platform. The team’s goal is to raise a minimum of $30 million EUR. This endeavour will take place in multiple stages, with the first stage expected to bring in the first $5 of a desired $30 million EUR.
Plans for the funds involve the continued growth of the company. More specifically, the team at Blockport wants to expand into the United States and beyond. In addition, the company indicates that they intend on applying for the appropriate licencing to allow fiat-crypto services.
Blockport maintains headquarters in Amsterdam. The company was founded in 2017 by a trio of forward thinking individuals.
Today, Blockport strives to deliver the most comprehensive crypto trading platform for beginners and pros alike. Their unique approach includes features such as copy-trading, and more.
It should be noted that Blockport previously hosted a successful ICO as well. Those tokens, known as Blockport Token (BPT), should not be confused with the upcoming sale of digital securities. While the BPT is key to the day-to-day community utilizing the platform, they do not represent equity within Blockport. The to-be-released digital securities, however, known as Blockport Securities (BPS), will be sold under Regulation D, and represent equity shares in the company.
Sebastiaan Lichter took the time to speak with us here at Securities.io regarding the upcoming STO. The following is what he had to say.
Why was Tokeny chosen to host the upcoming STO?
“We’re working with Tokeny since they’re one of the leading issuance platforms in the industry, and one of the few that have helped multiple companies successfully issue security tokens. Besides the technical side, Tokeny is a strong partner on legal and provides us with the right knowledge to offer our STO in multiple jurisdictions.” Sebastiaan Lichter added, “Additionally, we see Tokeny as a trustworthy partner who is a member of ABBL (The Luxembourg Bankers’ Association), EU Blockchain observatory forum, EEA (Enterprise Ethereum Alliance) and the Bitcoin Foundation. Their platform has facilitated over 18 token sales across five continents, and has been used by more than 50000 investors.”
Why has Blockport chosen to raise funds through an STO, rather than more conventional means?
“In line with the growing trend towards digital marketplaces, we’ll be tokenizing a portion of our company’s shares – granting the public an opportunity to become shareholders of the Blockport company through a STO. Tokenization allows for easier access but above all, it makes it easier for investors to buy, sell or trade them in a later stage. Furthermore, security tokens provide liquidity to investors, access to compliance features to issuers, and a framework for oversight to regulators.” Lichter finished by stating, “Blockport has always been a crowd and community-focused platform, and we’re now applying the latest in technology to issue shares in a way that lowers barriers to entry. This strategy of tokenization allows us to distribute ownership of Blockport amongst the stakeholders in our ecosystem that share our vision – also helping us to better match the demand we’ve received for a profit share model in the Blockport ecosystem.”
Tokeny maintains headquarters in Luxembourg. The company was founded in 2017, and identifies within the FinTech sector. Above all, Tokeny is working to develop and offer a comprehensive platform to facilitate companies in the process of tokenization.
In Other News
Tokeny has become a popular company in our news feed. In recent months, we have detailed their developments numerous times. With Blockport hosting an upcoming STO, there is no doubt that they will be repeat visitors in our headlines as well. Here is a looks at a few of the articles we have written on developments pertaining to Tokeny:
Since the posting of this article, multiple developments regarding the launch of the STO have taken place.
As of April 11th, 2019, whitelisting for Blockport Securities (BPS) is open.
Token issuance will take place on April 15th, 2019.
These digital securities represent depositary receipts/certificates, providing holders rights to a proportionate share of future dividends.
For tokens issued within the United States, this will occur under Regulation D, Rule 506(c) of the Securities Act of 1933.