Connect with us

Security Token News

Blueshare Announces Swiss Compliant STO

mm

Published

 on

Blueshares Announces STO

The newly formed tokenized shares firm, Blueshare, announced the start of its STO on May 6, 2019. The funds raised will go to further the development, exploration, and acquisition of future mineral rights in Bulgaria. Blueshare is a corporate entity created to represent tokenized shares in the largest mining operation in the region – Interprom Mining AG. The announcement signals a further integration of blockchain tech into the mining and construction sectors.

Interprom Mining AG has over 23 years of experience in mining and development. The firm participated in numerous large scale urban development projects over the last decade. These projects range from wastewater purification systems, to power plants, and everything in between. Notably, the firm nearing completion of a complete city subway system based in Bulgaria.

Intereprom Mining AG

Now, Interprom Mining AG seeks to expand its influence in the mining sector in a major way. The company currently controls $4.3 billion in exploration concessions in Bulgaria. Interestingly, the firm seeks to acquire another $26.7 billion in forthcoming exploration rights focused on precious metals such as gold, silver, copper, and lead.

To acquire these rights through exploration Blueshare seeks to raise over a 100 million EURO via an STO. The capital raised will go towards natural resource mining. According to the company’s roadmap, by 2021 the platform will make its first Blueshare dividend payout.

Blueshare via Homepage

Blueshare via Homepage

Compliance

Blueshare issued a prospectus regarding the upcoming crowdfunding event. The STO will fall under full Swiss compliance. This compliance includes adhering to the strict Swiss Financial Markets Regulatory Framework of Anti-Money Laundering (AML) and Know Your Customer (KYC) screening requirements.

Blueshare Tokens

Blueshare tokens will live on the Ethereum blockchain. These tokens are built on the ERC-20 protocol. ERC-20 is by far the most popular token protocol. It enables these tokens to see more interoperability.

In regards to exchange listings, the firm signed an MOU with the Swiss exchange SCX.CH. Discussing the matter, developers explained how they hope to expand to six exchanges within the first year of issuance.

Altcoinomy

To make the concept a reality, the firm partnered with Geneva-based Altcoinomy. Altcoinomy specializes in tokenized shares. There security token ecosystem includes issuance, sales, transfer, and management services. Token holders receive dividends for their investment. Notably, Blueshare gives investors the option to receive dividends in a wide variety of currencies including USD, EURO, BTC, ETH, and Tether.

STO Details

Blueshare’s STO fundraising event has a cap set at 128,000,000 EUR. The event officially started May 6, 2019 and will last a total of ninety days. One Blueshare token is equivalent to one share in the company. Interested investors must undergo KYC/AML regulatory compliance.

Building with Blockchains

Blueshare is another example of a blockchain construction hybrid with unlimited potential. If successful, you can expect to see a host of other firms attempting to follow similar strategies in the coming months. What makes Blueshare so unique is the fact that the company has so much experience in the space.

The Blueshare Concept

The Blueshare concept is not the first attempt to tokenize mineral rights or precious metals. However, it is the first one to be fully compliant under the new Swiss regulations concerning STOs. That makes Blueshare a pioneer in its class.

Spread the love

David Hamilton is a full-time journalist and a long-time bitcoinist. He specializes in writing articles on the blockchain. His articles have been published in multiple bitcoin publications including bitcoinlightning.com

Security Token News

Blockport STO Fails to Gain Traction – Platform to Shutdown

mm

Published

on

Blockport STO Fails to Gain Traction - Platform to Shutdown

Failure to Launch

On a disappointing note, Blockport has announced the cancellation of their ongoing security token offering. After launching the event, roughly 1 month ago, the team has indicated that they have failed to attract their minimum threshold of investments.

This comes as a letdown to the industry, as Blockport represented one of the first security token offerings to be offered through the Tokeny platform. To date, only a handful of STOs have taken place through ANY issuance platform.

Future Aspirations

While Blockport will be returning investments to the few participants in their STO, they have indicated that this is not the end for them. Their intent is to scale back operations in the short term, reflect, and establish a path for future growth.

This means that the platform will be shutting down in the coming weeks, revering to a ‘development mode’.

Commentary

Blockport CEO, Sebastiaan Lichter, elaborated on the cancellation in a statement to the public. The following is what he had to say on the matter.

“In the past few months our team has worked extremely hard to launch the first round of our STO, and yesterday this ended after being open for almost one month…In short, the results of the fundraise are not sufficient to proceed with the issuance of BPS tokens.”

Despite this, Sebastiaan Lichter remained confident in the future of blockchain. He continued,

“We still see a lot of opportunities in this industry and have built a top performing trading platform that many people love to use and which has had almost zero downtime or issues since we launched it in the summer of 2018…Whilst developing our platform, our goal is to explore opportunities that support a restart of the Blockport platform in the future.”

BlockPort

Operating out of Amsterdam, Blockport is a Dutch company, which was launched in 2017. Under the watch of CEO, Sebastiaan Lichter, Blockport has developed and launched a trading platform, tailored toward, both, utility and security tokens.

The security token offering, discussed here today, was launched through the Tokeny issuance platform, on March 31st, 2019.

Tokeny

Tokeny is a Luxembourg based company, which was launched in 2017. Above all, Tokeny acts as an issuance platform, providing companies with solutions for the tokenization of assets. Tokeny was responsible for facilitating the Blockport STO – For their part, the event went off without a hitch.

In Other News

While the failed STO is an unfortunate situation, BlockPort is by no means alone. For a variety of reasons, there have been various deals to have fallen through in the past few months. The following articles detail a couple of these situations.

Harbor Cancels Convexity Properties STO

Due Diligence Process Delays tZERO Investment

Spread the love
Continue Reading

Security Token News

BitBond Opens Bounty Program for Live Security Token Offering

mm

Published

on

BitBond Opens Bounty Program for Live Security Token Offering

BitBond Bounty

BitBond, a blockchain company hosting a FINRA approved STO, has recently announced the launch of a bounty program. This program was launched in an attempt to raise market awareness of their ongoing security token offering.

This STO, scheduled to be live until early June, has seen modest success thus far, with investors contributing over €2 million to date. This puts them well on their way to raising the minimum €3 million in the event.

In an attempt to ensure the minimum €3 million threshold is met in their STO, the bounty program consists of 6 main ways in which participants can be rewarded.

  • Hunter Bounty
    • Referrals leading to bounty program participation
  • Affiliate Bounty
    • 5% commission on referrals leading to investments over €10,000
  • Signature Bounty
    • Token compensation for active BitcoinTalk users which advertise the STO in their signature.
  • Creative Bounty
    • Rewards for creative advertising in the form of memes, gifs, images, etc.
  • Social Media Bounty
    • Compensation for STO promotion through qualified Twitter, Facebook, LinkedIn, and Telegram accounts
  • Content Bounty
    • Rewards for creation of articles, and videos, which raise awareness about the BitBond STO.

Bounty Programs

A bounty program is a promotional event, aimed towards raising awareness of a fundraiser. Participants in such programs are typically compensated for promoting a company with tokens. Promotional tasks are often varied, such as writing articles, attaining referrals, reporting bugs, and so on.

While bounty programs were commonplace throughout the ICO boom, the concept is new when being applied to security token offerings. Time will tell if this promotional tool is an effective one when dealing with this new form of fund raising.

Commentary

BitBond CEO, Radoslav Albrecht, commented to CrytoGlobe on the choice to host a bounty program. He stated the following.

“Since our launch in 2013 Bitbond has always worked closely with the crypto and blockchain community. This bounty program gives us the opportunity to engage further with our community, reward Bitbond early adopters and spread the news about our new groundbreaking project, the Bitbond STO.”

BitBond

BitBond is a Germany based company, which was launched in 2013. Above all, BitBond utilized blockchain to facilitate financial services. This primarily includes the issuance of business loans.

Company operations are overseen by Founder and CEO, Radoslav Albrecht.

We recently detailed BitBond and their FINRA approval – a feat not achieved by scores of applicants prior to BitBond. Check out the details to this success HERE.

In Other News

Beyond BitBond utilizing the Stellar blockchain for issuing security tokens, Stellar has experienced growing levels of adoption in recent months. The following articles demonstrate various ways in which this adoption has occurred.

Smartlands Releases Stellar Powered Wallet Supporting security Tokens

Stellar Chosen by Wevest for Security Token Offering Platform

Spread the love
Continue Reading

Security Token News

Poloniex Cleans House as Tokens Delisted for Fear of Being Called Securities

mm

Published

on

Poloniex Cleans House as Tokens Delisted for Fear of Being Called Securities

Poloniex Delisting Assets

Poloniex has given unfortunate news to enthusiasts of various assets supported through their platform. The popular exchange has announced that, due to ongoing regulatory uncertainty, they will be de-listing a variety of assets.

This event is a precautionary one, as the possibility exists that the structuring of these assets would classify them as securities. Fearing retribution from the SEC, Poloniex has decided to play it safe, and remove their support.

Uncertainty Remains

While the portfolio of offered assets on Poloniex remains strong, this does not mean that other assets can rest easy.

It has been made known, by various industry participants, over the past few weeks that uncertainty remains pervasive in the digital securities space. This is largely, in part, due to a lack of clarity afforded by United States regulatory body, the Security and Exchange Commission.

Until the SEC is able to provide more detailed guidance on these digital assets, expect to see more de-listings, for fear of these being dubbed securities.

Down and Out

The affected assets in this announcement total 9, which each unique in their structuring and target markets. They are as follows,

  • Augur (REP)
  • Omni (OMNI)
  • Decred (DCR)
  • Game (GAME)
  • Ardor (ARDR)
  • Bytecoin (BCN)
  • Gas (GAS)
  • Lisk (LSK)
  • Nxt (NXT)

Commentary

In a statement to the public, Poloniex explained their reasoning for the delisting of various assets. The Poloniex team broke the news, to holders of these tokens, by stating the following.

“We are committed to complying with regulatory requirements in every jurisdiction. Today’s action is a result of regulatory uncertainty in the US market. Specifically, it is not possible to be certain whether US regulators will consider these assets to be securities.”

Despite this, the team continued, expressing optimism moving forward.

“We understand how frustrating this choice is for our customers, and for the crypto community more broadly. We believe in the power and potential of these assets, and will continue to focus time and energy on supporting positive policy and regulatory developments for crypto assets in the US and around the world.”

Poloniex

Poloniex is a Delaware based cryptocurrency exchange, which was launched in 2014. In the time since their launch, Poloniex has gone on to establish themselves as a leading exchange. Poloniex’s reputation has been strengthened in the past year, since being acquired by Circle.

Circle

Circle is a Boston based company, which made waves in 2018, when their $400 million acquisition of Poloniex occurred. In the time since this move, Circle has worked to bring Poloniex in line with regulations, building a strong reputation, and growing the platform at the same time.

In Other News

While this is unfortunate news for enthusiasts of the affected assets, Poloniex doesn’t simply have a habit of delisting. In previous months, we have noted their addition of Polymath and their utility token for use through their security token’s tailored services.

Security Token Platform, Polymath (POLY), Listed on Growing Number of Exchanges

Spread the love
Continue Reading