TokenMarket, the investment platform powered by blockchain announced launching it’s Security Token Offering (STO). This development was on 01 July.
TokenMarket headlined that this was one of the first UK retail offerings of tokenized equity which could be leveraged by investors to buy equity tokens at nominal prices. TokenMarket indicated that post the fundraiser, it would set itself apart from the frontiers of Financial Conduct Authority (FCA) as a fully regulated investment platform. TokenMarket conveyed that it would then channelize its efforts to help businesses raise capital through STO.
Further adding on the offer, TokenMarket noted –
“This will be one of the UK’s first sales of tokenised equity to everyday investors. By setting the price at 30p, TokenMarket is aiming to offer access to retail investors, reflecting the company’s commitment to provide global investors with the opportunity to back ambitious, early-stage start-ups and SMEs. STOs, a new form of fundraising, allow investors to record equity on distributed ledger technology (DLT) under existing securities regulations.”
TokenMarket further added that since its inception, it has helped raise 240 million GBP for over 30 startups. The investment platform indicated that in the process, it had expanded to Dubai, Malta, and Finland. TokenMarket clarified that it had secured restricted FCA permissions. TokenMarket had leveraged the permission for the equity issuance and envisioned to exit the sandbox. By being autonomous, TokenMarket would be an independent investment platform.
TokenMarket threw light on the strong line of businesses that seek STO once TokenMarket leaves the FCA. Such businesses include the likes of Cryotech Nordic and Dovu. TokenMarket shared insight into some of their industry offerings. Cryotech Nordic was at the forefront of innovative cryotherapy systems and solutions. Dovu works on the principle to create an economy for smart mobility where consumers are rewarded for vital data and actions.
In June, TokenMarket received FCA approval to run STO in the regulatory sandbox. Following the formal approval, TokenMarket would announce a launch date for its STO and invite global investors to invest in the company’s tokenized equity shares. TokenMarket indicated that FCA’s approval was a critical step in securing a regulated and compliant facility for STO, an easier way for companies to raise money.
Ransu Salovaara, TokenMarket CEO expressed positively on the confirmation date for the launch of the STO. Ransu also emphasized on the progress in the FCA’s sandbox. He opined that TokenMarket strived to democratize investment opportunities that would enable commonplace investors to get involved in early-stage start-ups.