Connect with us

Security Token News

Kriptomat to Become Second Security Token Offering Through DESICO

mm

Published

 on

Kriptomat to Become Second Security Token Offering Through DESICO

Service Usage

DESICO has just announced another security token offering, set to take place on their platform. In the coming weeks, investors will have the opportunity to purchase digital securities issued by Kriptomat.

This announcement marks the second external, and third overall, STO to be announced by DESICO. The first being their own, the second by Paysera, and now Kriptomat.

Both the Kriptomat (May 9th) and Paysera (April 30th) security token offerings are scheduled to commence in the coming weeks.

Kriptomat has chosen the STO route, as they believe an invested user base will make their product more likely to succeed. A user base that stands to benefit from the growth of the platform, and isn’t disconnected from the success of Kriptomat, is more beneficial to all parties involved.

Commentary

In their released statement, the CEO of both, Kriptomat and DESICO, commented on the forthcoming security token offering discussed here today.

Srdjan Mahmutovic, CEO of Kriptomat, stated,

“We’re making digital currencies extremely easy to use and manage by making it simple to buy and also by giving users a wallet to manage their crypto that resembles and functions exactly like a mobile banking app.” 

We reached out to Kriptomat, and inquired about their decision to utilize DESICO for hosting their STO. Srdjan Mahmutovic indicated that while their search entailed looking at various companies, DESICO was simply ‘the best fit for us’.

Laimonas Noreika, CEO of DESICO, stated,

“We feel this is a fantastic opportunity and perfect match for our technology. Kriptomat is a great product, built by an experienced team with a superb track record and huge ambitions.”

Kriptomat

Kriptomat is a Slovenian company, which was founded in 2018. The company functions as a cryptocurrency exchange, which is tailored towards users of all experience levels. Kriptomat currently caters towards the European market, with support for the entire European Union. This is made possible through licensure maintained within Estonia.

Company operations are overseen by CEO, Srdjan Mahmutovic.

DESICO

DESICO is a Lithuanian company that was launched in 2017. The company has a comprehensive offering of services such as a crowdfunding platform, security token exchange, and a crypto-fiat payment system.

Company operations are overseen by CEO, Laimonas Noreika. Under his watch, DESICO successfully underwent their own STO in 2018. During this event, the company successfully raised their goal of $1 million in funding.

For a more detailed look at DESICO, and what it is they offer, make sure to visit our token listings page HERE.

In Other News

Beyond STO announcements, DESICO has been busy on all fronts in recent months. This includes various partnership announcements, in addition to offering STOs. The following are a few articles detailing some of their actions in this time.

Paysera to be First STO launched through DESICO

DESICO to Combine Forces with Securitize

DESICO partners with Blocktrade

 

Spread the love

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.

Security Token News

VeVue Signs Partnerswith CBX for Token Launch

mm

Published

on

VeVue Partners with CBX Exchange for STO

The blockchain-based social media platform, VeVue announced plans to host an STO in the coming weeks. The company intends to expand the platform’s capabilities with the funds raised. Now content creators have a more lucrative alternative to consider moving forward.

News of the company’s intentions first broke via an October 14 press release. In the post, the company announces its new strategy and partnership. As part of the firm’s new crowdfunding approach, VeVue partnered with the hugely popular CBX exchange.

CBX Exchange

For its part, CBX will be responsible for the sales, token issuance, and distribution of the VUE token. CBX is one of the largest crypto exchanges based in the Middle East. The firm operates a fully compliant EU exchange. Developers integrated both AML and KYC protocols directly into its trading platform.

VeVue via Homepage

VeVue via Homepage

CBX recently launched a campaign with Alibaba competitor GoJoyin in which the platform secured over $10 million in funding. The experience gained in this campaign will be critical for VeVue STO’s success.

VUE STO

The VeVue STO will commence on October 28, 2019, at 4 pm PST. Interestingly, the event is scheduled to only last 48 hours. CBX intends to issue 5 million VUE tokens to qualified non-US investors. Vevue also announced that there will only be 100 million VUE tokens in total available to investors. Of these tokens, 35 million are reserved for investor purchases.

Vevue and CBX Unique Strategy

CBX and Vevue have a unique strategy for their crowdfunding efforts. The company intends to host an STO monthly moving forward. Additionally, these auctions will be Dutch-style. Basically, the official token price is set after taking in all bids.

Highest-Price VeVue STO

This strategy enables the firm to receive the highest price for the total offering. For example, investors place their bids which include the price and quantity they desire. The firm will then accept the top 5 million bids for the tokens.

VUE Token Benefits

VUE token holders receive a portion of gross revenue collected via the VeVue social media app. Consequently, investors actively earn from VeVue’s ecosystem. The App provides content creators with a revenue-generating outlet. Here, users can create and monetize content such as videos easily.

VeVue Transaction Fees

Vevue charges a 5% transaction fee on the monetized content. This fee then enters into the dividend pool from which STO investors receive payments daily. Importantly, dividends are paid in VUE tokens. This unique strategy encourages users to create high-quality content to earn more tokens.

Next Level Social Media

Traditional social media doesn’t allow users the opportunity to earn from their content contributions.  In fact, the current social media giants provide content creators with zero payment for their efforts.

Social Media Heat

VeVue’s timing is impeccable as social media giants such as Facebook continue to confront lawmakers over a myriad of concerns. Facebook, in particular, appears to be in the target of regulators after announcing plans to issue its own native cryptocurrency called the Libra.

A Better Social Media Alternative

VeVue appears to have unlocked a better way to social media for everyone. Providing users with an opportunity to earn tokens for their content is a smart concept that has proved to be a great alternative in the past. You can expect to hear more from VeVue in the coming weeks as its STOs hit the market.

Spread the love
Continue Reading

Security Token News

CFTC Labels Ether a Commodity

mm

Published

on

Ether is a Commodity

The crypto community got some exciting news this week after the Commodity Futures Trading Commission (CFTC) Chairman stated that Ether (ETH) is a commodity. The news follows similarly worded statements from SEC officials in the past.

The news came via an Oct 10 statement from acting CFTC Chairman Heath Tarbert. In the post, the Chairman announced that he believes Ether is not a security at this time. The news comes at a critical point in Ethereum’s development.

The news is a huge win for the Ethereum community. Currently, Ethereum is the second-largest cryptocurrency in the world by market cap ($20 billion). The ruling is important because it means Ether falls under CFTC regulations and not SEC securities regulations. Consequently, the decision allows financial institutions to offer a wide array of new products and open up entirely new markets moving forward.

Ether Futures and Derivatives

In the past analysts pointed out that the Ether derivatives market suffered due to the lack of transparency. Tarbert now says that you can expect to see both Ether futures and derivatives markets in the very near future. Surprisingly, he stated that these financial tools would hit the market in less than a year.

Ether Creator Vitalik Buterin via Medium

Ether Creator Vitalik Buterin via Medium

Transformative Token

According to the Chairman, Ether is a case of a transformative token. Basically, the token started as a security during the ICO event. At that time the enterprise was playing a controlling role over the digital asset. As time progressed, the Ethereum enterprise faded to the background as the cryptocurrency decentralized. Now the token serves as a utility.

Reverse Securities

Additionally, Tarbert described the reverse scenario in which a utility token slowly develops into a security. In this situation, you start off with a fully decentralized organization. Over time, the enterprise steps back in to take more control. Consequently, this creates a scenario where investors seek profits from the efforts of others. Now the token is a security.

Notably, SEC officials stated that they do not consider Ether a security in its current state. However, both the SEC and CFTC did point out that during the company’s ICO, Ether acted as a security. Luckily the SEC declined to fine the Ethereum development team for its ICO.

Bitcoin is a Commodity

Falling along this line of thought, Tarbert explained that Bitcoin is also a commodity. This statement coincides with the SEC’s decision to decline to label Bitcoin as a security. Analysts consider these actions as a precursor to this week’s news.

PoW to PoS

Also, Ethereum developers announced a shift from the Proof-of-Work (PoW) consensus algorithm to a more energy-efficient alternative, a Proof-of-Stake (PoS) consensus mechanism. PoS systems don’t require your PC to do heavy computations. Instead, users earn rewards for “staking” tokens in their wallets. In this manner, PoS tokens use far fewer resources.

Ether Moving Forward

The Ethereum community has much to celebrate moving forward. The cryptocurrency continues to see development across the entire sector. You can expect to see the Ethereum community expand as more ETH-based products enter the market in the coming months.

Spread the love
Continue Reading

Security Token News

SEC Seeks Input on ‘Boston Securities Token Exchange (BSTX)’ Proposal

mm

Published

on

SEC Seeks Input on 'Boston Securities Token Exchange (BSTX)' Proposal

Launching Markets – BSTX

The Boston Securities and Token Exchange (BSTX) has recently filed a proposal for various rule changes with the SEC. These changes would allow for BSTX to launch what would be the market’s first digital exchange supporting full-fledged digital securities.

Joint Filing

The Boston Securities and Token Exchange is a by-product of a partnership between tZERO and BOX Digital. This pairing of companies launched the joint venture in mid-2018, with the intent to develop the first fully regulated digital exchange in the U.S.

BSTX is expected to utilize blockchain technology provided by tZERO, while BOX representatives work towards establishing regulatory clearance. With each providing different areas of expertise to BSTX, both tZERO and BOX have made it clear that this is a joint venture, with each having a 50% say.

Rule Change

The proposed rule change discussed here dates back to late June, 2019. At the time of the filing, it was viewed as having the potential to create a ‘rulebook’ for the operation of such exchanges in the United States. Only now, months later, is the SEC making the filing available for public commentary.

A few of the noteworthy attributes of their proposed exchange are as follows:

  • Asset ownership recorded using a private blockchain
  • Trading enabled through use of BSTX tokens
  • Whitelisted clients

At the initial time of its filing, we took a brief look at BSTX and their plans, including the use of an in-house token developed by the exchange.

Boston Security Token Exchange (BTSX) Seeks SEC Rule Change

Commentary

In their filing, made public by the SEC, the BSTX begins by outlining their plans and intentions for the proposed exchange.

“BSTX would operate a fully automated, price/time priority execution system for the trading of “security tokens,” which would be equity securities that meet BSTX listing standards and for which ancillary records of ownership would be able to be created and maintained using distributed ledger (or “blockchain”) technology.”

Boston Securities and Token Exchange (BSTX)

Operating within the United States, BSTX is a proposed digital securities exchange, which was founded in 2018. The company looks to become the first exchange of its kind, supporting full-fledged digital securities.

CEO, Lisa Fall, currently oversees company operations.

In Other News

Whether it be through the backing of others, or through their own endeavours, tZERO remains hard at work, establishing the digital securities sector.

We were recently fortunate enough to have interviewed tZERO CEO, Saum Noursaheli. In this exclusive interview we discuss past and future events pertaining to the company. Make sure to check out the following interview to learn more!

Interview Series – Saum Noursaheli, CEO of tZERO

Spread the love
Continue Reading