ST8 Launched in an Effort to Help French SMEs
A trio of companies has just announced a joint effort, aimed towards SMEs based in France. The result of this is known as ST8.
ST8 is described as a ‘digitized financing solution’. By taking advantage of accommodating regulations within France, ST8 looks to provide SMEs with more effective access to capital, through the use of security token offerings.
Through the strength of each company, ST8 is able to offer a bevy of services, which cover the entire gamut required to successfully issue, and manage, compliant security tokens.
In their press release, representatives from each of the three founding companies took the time to comment on the event discussed here today. The following is what each had to say on the matter.
Fabien Aufrechter, Head of Havas Blockchain, stated,
“The expertise of our three firms forms a complementary and strategic offer for companies looking for innovative funding solutions. The tech and reputational expertise we provide allows us to deliver an institutional grade service for our clients.”
Paul Bougnoux, President of Psion Finance, stated,
“ST8 is a strategic alliance between digital and finance. As technology has advanced, digitalization is becoming more and more useful for the financing needs of firms. Hence the fact that we are proud to participate in the creation of this consortium to carry a new, end-to-end digital financing solution. This offer is also built on our core expertise: the financing of French businesses, which is the core of our economy.”
Luc Falempin, CEO of Tokeny, stated,
“In the near future, the tokenization of financial securities will become the main source of funding for SMEs. The benefits on both the buy-side and sell-side are overwhelming and allow for lower costs, and therefore reduce the barriers of entry for actors. It’s a matter of creating trusted and compliant tools in the ecosystem that these players can rely on. This is the main inception behind ST8, a 360° solution for a significant driver of the French economy.”
Havas Blockchain is based out of France, and was founded in 2018. Company services revolve around blockchain related endeavours. The company strives to provide ‘comprehensive support for blockchain projects and crypto-assets’.
Psion Finance is also based out of France, and represents the STO division of Largilliere Finance. The goal of Psion is to provide end-to-end services for companies considering tokenization.
Tokeny is a Luxembourg based company that was founded in 2017. Above all, Tokeny is a compliance platform. With a focus on the digital securities sector, Tokeny has developed various solutions to facilitate compliance among industry participants.
In Other News
Tokeny has made the news lately in a variety of ways. They have announced services solving industry problems, while facilitating the STOs of promising upstarts. Here are a few articles detailing recent achievement by Tokeny.
Blockport Partners with Tokeny on STO
Digital Securities Alliance formed by Tokeny and DLA Piper