Two Steps Forward
The past week has brought us multiple noteworthy developments from TokenMarket. These announcements included not only a new partnership, but regulatory approval, as well. This marks an exciting time for TokenMarket, as their hard work towards offering STOs is finally coming to fruition.
To begin, TokenMarket has officially received a formal approval for the completion of their own STO. This green-light was given by the FCA, and paves the way, not only for the TokenMarket STO, but for the platform to begin hosting token events for a variety of companies.
With this in mind, various companies are standing by in anticipation of completing their own STOs through TokenMarket. The following three are expected to be the first to do so.
- Reward and redemption system for mobility based rewards
- Incentivising sustainable spending habits through blockchain
- Cryotech Nordic
- Health and wellness through ‘Cryo Cabins’
Upon being granted entrance to the FCA sandbox, TokenMarket Managing Director, Ryan Hanley, spoke on the news. He stated,
“We are delighted to announce the FCA's approval for our STO, with the launch expected imminently. We look forward to exiting the sandbox, completing our fund raise and tokenised equity issuance, and then cracking on with launching STOs for other ambitious businesses…Access to finance is still a big issue for SMEs- it remains difficult and expensive, and this is holding back economic growth, and job and wealth creation. We hope our own STO can demonstrate that you can use blockchain technology to transform the way capital is raised.”
“At the same time, we want to offer our wide and deep pool of international investors the type of exciting investment opportunities that were previously closed off to them. We believe STOs promise nothing less that the transformation and democratization of capital markets.”
Leading up to their announcement regarding the FCA, TokenMarket also announced a strategic partnership with CMS equIP.
This partnership was formed in an effort to offer clients (SMEs), a more well-rounded experience, when hosting an STO. While TokenMarket will offer a platform which facilitates these token events, CMS equIP is able to assume the roles of a legal advisor, trainer, and networker. Together, these two companies offer a service greater than the sum of their parts.
The following is what representatives from each company had to say on the partnership.
Ryan Hanley, Managing Director of TokenMarket, stated,
“SMEs are the backbone of any modern economy, but many are held back by the scarcity and expense of growth finance. STOs open up a new, cheaper, easier way for ambitious companies to raise capital. Today's announcement is an exciting milestone for bringing STOs further into the mainstream. By partnering with CMS equIP, not only will we identify companies with the most commercial promise, but we will offer these companies another, crucial level of support in navigating the world of STO financing.”
Charles Kerrigan, Banking Partner at CMS equIP, stated,
“We are pleased to partner with TokenMarket. TokenMarket are a young and innovative company representing a number of exciting businesses from across the blockchain community who boast exceptional qualities that we seek from early-stage businesses joining the CMS equIP programme. Our partnership will also provide real value for equIP members who are interested to explore the STO framework of financing via TokenMarket's investment platform and community. We are excited to be working with TokenMarket and their clients, and look forward to the synergies that this partnership will bring.”
TokenMarket is a European company, which was founded in 2016. The company maintains headquarters in Gibraltar, and gears its operations towards providing a crowdfunding platform. This includes services facilitating the issuance of security tokens.
Company operations are overseen by Managing Director, Ryan Hanley.
CMS equIP is a UK based company, which was founded in 2015. As their name would suggest, they function in a manner to equip SMEs with the tools to complete a capital generation event. This comes primarily in the form of legal advice, but extends to include training, and networking opportunities.
In Other News
Over the past few months, we have detailed events surrounding TokenMarket various times. This includes companies which intend to host an upcoming STO through their platform. Check out the articles below to learn more about these offerings, and the company bringing them to you.