STO news

Security Token Offering. A type of fundraising via distributing tokens that act like equities and securities.

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Harbor Cancels Convexity Properties STO

Convexity Properties announced this month the cancellation of its highly anticipated STO. The news comes as a blow to the security tokens market as this project was the first tokenized REIT in the US. Now it’s back to the drawing board for these tokenized real estate developers. Convexity Properties previously made headlines with their advantageous approach to the real estate market. The plan was simple from a strategic point of view. Host an STO to crowdfund the purchase of a 260 unit student residence for the University of South Carolina. The property resides in a swank downtown Columbia neighborhood and features a host of world-class amenities. These amenities included a rooftop pool deck, fitness complex, a club lounge, and spacious luxury rooms. The project gained praise from the cryptocommunity with many analysts predicting the concept to be a huge success. It’s a No Go Investors were to get a share of the equity in the investment.  Now, it appears that the deal is not going through for a multitude of reasons. Speaking to Chicago Business, Harbor’s Spokesperson, Kevin Young explained some of the issues that resulted in the decision to cancel the Convexity Properties STO. Amenities via Columbia Hub Homepage It appears that the main reason for Convexity Properties’ cancellation is the attitude of the buildings, current lenders. In response to the cancellation, Young spoke on the uncertainty of real estate transactions. He said that the issuer was unable to come to terms with the existing mortgage lender. He ended off his interview with some words of hope in which he said the entire concept is still exciting. Don Wilson – Convexity Properties The man behind the concept is Don Wilson, the Owner of Convexity Properties. He is no stranger to the real estate market and his pioneering effort to increase tokenization in the sector can’t be balked at. As an experienced investor, Wilson believes his concept is solid and he is confident a better opportunity will arise in the future. Harbor To make the entire concept a reality, Convexity Properties partnered with the token issuance platform Harbor. Harbor is one of the top security token launch platforms in the market. Harbor utilizes the R-token protocol to ensure all tokens remain compliant throughout their life cycle. Equity Tokens The use of equity tokens in the real estate market is on the rise. Unlike security tokens, equity tokens represent a percentage of ownership in an asset, whereas, security tokens represent a right to a percentage of profits generated. Tokenized Real Estate Platforms such as Harbor offer users an all-in-one ecosystem for digital securities, equity, and private funds. Tokenized real estate brings many advantages to the table that can’t be ignored. Aside from more efficiency and security, this concept adds liquidity to stagnant markets. Through tokenization, the entry-level threshold for real estate investments can be lowered. Additionally, local markets can accept funding from global investors when utilizing a tokenization strategy. The combination of these factors makes tokenized real estate an attractive option for both investors and traditional real estate firm. You should expect to see more concepts similar to this emerge in the coming months, The post Harbor Cancels Convexity Properties STO appeared first on .
Securities.io

JetToken Partners with StartEngine on STO

Flying private jet just got a little easier thanks to the creative minds behind the JetToken concept. JetToken is a private plane membership service that allows users to access discounted flights and exclusive bookings. Now the company seeks to secure $10 million to further their jet acquisitions via an STO. The business jet industry has boomed in the last decade with NBAA reports placing the market at around $150 billion in yearly revenue. That equals out to roughly 2,740 charter landings per day. The same report showed that the average cost of chartering a private flight equals approximately $5000 per hour. Aviation Market Expansion The high price of these flights hasn’t deterred market expansion. In fact, private flights increased significantly over the last five years. To add to this congestion, out of 13,750 private jets in the US, only 4,000 handle charter flights. In most cases, jet owners decided against the additional FAA certification and insurance requirements needed to permit third parties to fly their aircraft. This added traffic has led to millions of flyers having to compete for flights during peak travel time. In turn, the congestion increased prices and stressed resources in the market. HondaJet Interior via Homepage JetToken Recognizing the need for a better system, Jet Token proposes to create a private booking and membership program for business class fliers seeking a more exclusive and affordable option. If successful, users will be able to book a private flight directly from the Jet Token Dapp. HondaJet Users will never experience any delays or blackout dates because Jet Token will own and operate a fleet of new HondaJets to accommodate their riders. HondaJets are considered the most cost-efficient private jets in the market currently. Also, these jets have enough room for both cargo storage and passenger relaxation. Gama Aviation USA Jet Token recruited Gama Aviation USA to operate and maintain these state of the art aircraft. Gama Aviation USA currently operates the largest fleet of private jets in the US. Also, the firm will be responsible for maintenance and repair on the aircraft. Jet Token Jet Token investors receive Ethereum-based equity tokens for their investments. The price per share token is $0.06 with a minimum investment amount of $100.02. Company officials stated that the firm will issue tokens initially on the Ethereum network via smart contracts. After the STO completes, Jet Token will begin migrating services over to its proprietary blockchain network currently under development – Monetarycoin. STO details Currently, the Jet Token STO is active. According to Start Engine stats, the company has 162 investors and raised around $61,000 so far. This is much less than the company’s goal of $1.07 million. Five days still remain in this stage of the crowdfunding campaign. The Future of Blockchain Aviation It’s no surprise that personalized flight is on the rise. People are tired of the run around major airlines deliver. Now, enterprise-level passengers have a better alternative. If successful, Jet Token has the potential to revolutionize the business flight sector in major ways. The post JetToken Partners with StartEngine on STO appeared first on .
Securities.io

New report identifies big opportunities in STO sector

A new report from Techemy Capital looks at the emerging Security Token Offering model. With the market projected to reach US$5 trillion by 2022, the report identifies significant investment opportunities for capital markets.
BraveNewCoin

Blueshares Brings Forward a Security Token Offering (STO)

Blueshares brings forward a security token offering (STO), providing prospective investors with a seamless and quick way to own shares of a well-established and renowned company with decades of experience. Blueshares represent tokenized traditional equity participation shares of Interprom Mining AG. The latter, incorporated in Switzerland is the majority owner of Interprom EOOD, a leading construction and mining company with 23 years of experience, holding 90% stake. Both companies are consolidated into a Group controlled by Interprom Mining AG. Interprom EOOD boasts an impressive portfolio of successfully completed large-scale construction projects, including but not limited to complex urban infrastructure, wastewater purification plants, healthcare and educational facilities, power generation, road construction, and so forth. The company is also in the process of executing the second stage of a 90 million euros subway construction project right at the heart of the capital of the European country Bulgaria.   Bluеshares: The Concept We are the first construction and natural resource mining company to offer its shares using the Ethereum blockchain smart contracts, providing 24/7 worldwide access to real-world value. Interprom Mining AG is regulated and incorporated under the laws of Switzerland where it has issued its Prospectus. The Prospectus is public, and all potential investors can refer to it in their assessment of investment opportunity. The offering is in compliance with the Swiss Code of Obligations and Swiss Financial Markets Regulatory Framework of Anti-Money Laundering (AML) and Know Your Customer (KYC) screening requirements that are obligatory for all participants. FUNCTIONALITIES PLANNED FOR 2019 Whitelisting: Onboarding and pre-approving of investors with respect to KYC/AML regulatory compliance in partnership with Geneva-based Altcoinomy. Linking 300 Million BST tokens to 300 Million Interprom Mining AG equity capital participation shares. Conducting the BST security token offering. P2P and wallet to wallet transfers of Blueshares among all shareholders. Flexible Buy / Sell Announcement bulletin board aggregating the announcements of users wishing to exchange Blueshare tokens in a P2P fashion. Live communication channels among users to facilitate private P2P deal making. OPTICASH – dividend pay-out both in fiat and crypto currencies – Euro, Bitcoin, Ether and Tether. PLANNED LISTINGS ON COMPLIANT BLOCKCHAIN SECURITIES EXCHANGES IN 2019 and 2020 Signed MOU in place with Swiss SCX.CH exchange for listing Blueshare in August 2019, when SCX expects to receive its licenses. Planned listing in at least three regulated, licensed and compliant blockchain securities exchanges by the end of 2019. Planned listing in at least six regulated, licensed and compliant blockchain securities exchanges by the end of 2020. The project’s hard cap is set to EUR 128,000,000. The public offering’s lasting period is 90 days. Interprom Mining AG will issue 300,000,000 security tokens – 80,000,000 will be offering at the cost of EUR 1.60. The token/share ratio is 1:1, meaning that 1 security token is backed by 1 Equity Capital Participation Share. Investments are accepted both in fiat and cryptocurrencies – Euro, Bitcoin, Ether, and Tether. The token sale is expected to start on May 6th 2019. The funds raised under the proposed security token offering will be used as a direct investment into the company’s mining and exploration concessions. For over the past 5 years, the company has been actively investing in natural resources exploration. The Company owns the exploration concessions for several sites in Bulgaria. The estimated value of the exploration concessions is over US$ 4.3 billion. Additionally, the company has an indicative US$ 26.7 billion in potential forthcoming mining exploration rights with a main focus on Gold, Silver, Copper, Zinc and Lead. Upcoming Events Blueshares’ team is traditionally attending the majority of important blockchain and cryptocurrency conferences in order to meet with as many people from the community as possible. The team will be attending the following upcoming events: Blockchain Expo Global – April 25th – 26th, London, Stand 648.  Our speaker, Dr. Zlatin Sarastov – CFO of Blueshare, will be pitching from the stage on Day 1, 12:40PM  at Investor & Innovation Zone World Blockchain STO Summit Dubai – April 29th – 30th, Dubai. The financial advisor of Blueshare, Ilian Scarlatov, will be a speaker on Day 2 11:15AM. BlockJakarta 2019 – May 2nd, Jakarta. The CFO of Blueshare, Dr. Zlatin Sarastov will be on stage at 12 PM presenting lecture “Five Reasons Why the Tokenization of Securities Shall Prevail” About Interprom Group Interprom Group has a well-established off-block chain business with 23 years of successful and profitable track record. It’s built on 2 core business lines: construction of infrastructure projects and natural resources exploration and extraction (for reference: www.interprommining.com). The company has managed to complete numerous large-scale and infrastructural projects, netting billions in revenue over the years. Disclosure: This is a sponsored press release The post Blueshares Brings Forward a Security Token Offering (STO) appeared first on NullTX.
NullTX

CurveBlock to Host STO in Q2 2019

The UK-based real estate development firm CurveBlock announced plans to host an STO in the coming weeks. As previously reported, CurveBlock is the first major blockchain real estate platform to receive backing from a major UK banking firm, UK NatWest. The move symbolizes a step towards further integration of blockchain-based firms and traditional banking institutions. Additionally, it shows the UK’s forward-looking stance on blockchain technology. CurveBlock is a tokenized real estate development platform that seeks to disrupt the current business systems in place. The firm enables investors to crowdfund development projects through the use of security tokens. Investors receive a share of profits generated from their investments. Consequently, the platform enables global investment capital to enter the UK real estate market seamlessly. Additionally, it lowers the markets entry-level threshold. CurveBlock Token Investors receive CurveBlock Tokens (CBUK) to represent their holdings. These fully-compliant security tokens utilize the SRC20 protocol at the time of release. According to the company’s whitepaper, the tokens will transition to Protocol Stratis Platform at a later date. Notably, the total supply of these tokens is 500 million. CurveBlock Token Distribution via Whitepaper CurveBlock Roadmap According to CurveBlock’s roadmap, the firm seeks to host its STO in Q2 of this year. Additionally, the platform will begin its initial investments including purchasing development properties in 2019. The platform will develop the PoS wallets for CurveBlock holders by the end of 2019. By 2020, investors can expect to see returns on their investments according to the company’s implementation plans. Tokenized Real Estate Investment Tokenized real estate platforms continue to emerge in the market. The introduction of security tokens makes tokenized real estate an attractive alternative compared to traditional means of real estate investment. These new-age platforms reduce the entry level for investors while increasing their ROI potential. It’s no surprise that major banks started to take notice. NatWest Bank Accelerator In the past, UK banks have shown concern for blockchain fundraising events, but it now appears that those feelings are no more. UK NatWest caught the attention of the entire EU cryptocommunity when they first announced the creation of a blockchain accelerator program in February 2018. NatWest holds considerable sway in the UK markets and their backing gives CurveBlock a huge advantage. As a selected member of NatWest Bank’s accelerator program, CurveBlock receives access to tons of helpful perks. These perks included free office space, access to mentors and business coaches, Legal assistance, and more. NatWest recognized the huge upside potential of the blockchain industry and the bank seeks to position itself optimally for the digital economic revolution. Speaking on the matter, CurveBlock’s co-founder and CEO, Gary Woodhead, explained how his platform alleviates many of the centralization concerns created through the use of traditional banks. He described how CurveBlock is more than a generic blockchain startup and how the platform provides an “education to financial freedom.” When asked about CurveBlock’s early positioning in the market, Woodward responded with some revealing statements. He spoke on the importance of setting the “bar as high as possible.” Also, he described how the disruption of traditional markets requires “quality, not quantity.” He ended off the interview with a quality comparison of today’s market versus the 2017 ICO craze. Ahead of the CurveBlock CurveBlock has a concept that is sure to gain traction in the market. Now, with the help of one of UK’s most respected banking firms, CurveBlock has the backing to make some serious waves in the market. You should expect big things from this development team in the coming months as their platform gains traction. The post CurveBlock to Host STO in Q2 2019 appeared first on .
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STO news by Finrazor

ESSENTIAL

A Security Token Offering (STO) is a form of raising capital for a startup by distributing tokens to investors. While ICOs mainly deal in utility tokens that grant their holders access to services and products associated with respective blockchains and dapps, security tokens can be thought of as digital documents representing the investor’s rights to equity, a revenue share, debt, etc. STOs provide a better investor protection as they need to be compliant with appropriate regulations

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DIGEST

Lithuania seeks becoming hub for security tokens, Thailand needs more crypto regulation, 'buy Petro before 2019' incentive, cease and desist order against 4 more ICOs, Bahama released discussion paper, British FCS warns against AsicTrader, VersaBank completes VersaVault, BBVA settles $170M loan over blockchain, fake news of ban upliftment in China, Thailand SEC to authorize the first ICO portal, Malaysia to use e-Scroll for degree certification, France considers lowering taxes on bitcoin gains

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OPINION

STO versus ICO: Not Just a Token Type But a Mindset

There are different ways of fundraising: venture capital, crowdfunding, ICO, IEO, STO with certain pros and cons. Finrazor and Monetizr, a project that preferred the STO campaign to an ICO, suggest to dive in the 'security token offering' concept and have a closer look at its features

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OPINION

What Is the Future of Stocks?

Brian Armstrong, Coinbase CEO, thinks that in five years one billion people will be using crypto. Also, he claims that in the near future Coinbase could list hundreds of tokens, or even millions in the more distant future, with proper regulations.

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OPINION

Ways of Raising Capital for Startup

There are many ways of raising capital for your startup. You must consider all options and choose the one that best suits your particular venture. Here we provide an overview of seven common ways of funding to help you weigh the pros and cons of each source and make an informed decision.

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Biggest weekly losers: XRP, Litecoin [LTC], Stellar Lumens [XLM] fall by 10%; market tanks after Bitfinex-Tether fiasco

The market saw prices of most major cryptocurrencies soar earlier this week. However, the weekend has led to a new turn of events as coins are now being dragged into bearish territory. Among the top-10 coins, the five cryptocurrencies that saw the biggest fall were Stellar Lumens [XLM], EOS, Cardano [ADA], XRP, and Litecoin [LTC]. The fall in prices was a result of the Bitfinex-Tether fiasco. New York State’s Attorney General’s [NYAG] office revealed that iFinex, the company behind the crypto-exchange Bifinex, may be violating New York Law. This announcement was in relation to activities that “may have defrauded” local investors who trade in cryptocurrencies. Stellar Lumens [XLM] Source: Trading View Stellar Lumens [XLM] was valued at $0.1158 on April 20 and fell by 14.68% over the week. At press time, the coin was valued at $0.0990 with a market cap of $1.88 billion. The 24-hour trading volume was noted to be $276 million, as the coin fell by 4.50% over the past day and continued to dip by 0.43% within the past hour. EOS Source: Trading View EOS, at the beginning of the week was valued at $5.47, after which it fell by 13.97% over the past seven days. At press time, the coin was valued at $4.70, with a market cap of $4.43 billion. The 24-hour trading volume of the coin was $2.62 billion as it fell by 1.91% over the past day. The coin, at press time, was falling by 0.14% and failed to recover. Cardano [ADA] Source: Trading View Cardano [ADA] fell by 13.41% over the week, which resulted in its price falling from $0.0769 to $0.0690. The market cap of the coin was reported to be $1.78 billion and the 24-hour trading volume was $108 million. Over the past 24-hours, the coin fell by 4.47% and continued to fall by 1.35% within the past hour. XRP Source: Trading View At the beginning of the week, XRP was valued at $0.3325, after which it slipped by 11.88% and, at press time, was valued at $0.2929. The market cap of the coin was noted to be $12.30 billion and the trading volume of the coin was $1.36 billion. XRP fell by 2.49% over the past day and by 0.50% over the past hour. Litecoin [LTC]  Source: Trading View Litecoin [LTC] noted a fall of 10.79% over the past week, which reduced the price of LTC from $81.33 to $72.64. The market cap of the coin was $4.46 billion with a 24-hour trading volume of $3.15 billion. The price of the coin fell by 0.77% over the past 24-hours and by 0.94% within an hour. The post Biggest weekly losers: XRP, Litecoin [LTC], Stellar Lumens [XLM] fall by 10%; market tanks after Bitfinex-Tether fiasco appeared first on AMBCrypto.
AMBCrypto

Bitfinex: $850M Lost Tether ‘False Assertion’

Following the New York Attorney General’s accusations of a $850M cover-up by Bitfinex, the company has issued its response. Binfinex refutes the claims as ‘riddled with false assertions’ and that the funds are not lost.  The Cover-Up Claims According to the NY Attorney General’s claim, Bitfinex lost $850 million of customer money. This had been sent to, and seized by payment processing firm, Crypto Capital Corp. The allegation goes on to say that Bitfinex used cash reserves from affiliated stablecoin, Tether, to cover the shortfall. The AG, Letitia James, claims this ‘loss of funds’ and movement of reserves was not disclosed by operator of both Bitfinex and Tether, iFinex. Therefore, it had “engaged in a cover-up to hide the apparent loss of $850 million of co-mingled client and corporate funds.” At press time, the price of USD Tether 00 has fallen bellow its $1 peg. Meanwhile, its stablecoin competitors such as USD-Coin 00  and TrueUSD 00 are now trading at a slight premium. This suggests that investors are likely swapping their tethers  to avoid any further surprises. Worth noting, Bitcoinist reported yesterday that the supply of tethers has reachd an all-time high. ‘Bitfinex and Tether are Financially Strong’ Bitfinex responded today by claiming that the AG’s filings: …were written in bad faith and are riddled with false assertions, including as to a purported $850 million “loss” at Crypto Capital. It claimed that these funds were not lost, but had “been, in fact, seized and safeguarded,” and it was actively working to get those funds released. It went on to chastise the AG for not doing more to aid and support its recovery efforts. Both Bitfinex and Tether are financially strong – full stop. And both Bitfinex and Tether are committed to fighting this gross overreach by the New York Attorney General’s office against companies that are good corporate citizens and strong supporters of law enforcement. Bitfinex and Tether will vigorously challenge this, and any and all other actions, by the New York Attorney General’s office. The Double Standards Caitlin Long pointed out on Twitter, that even if the allegations were true, the NY AG was guilty of double standards. From 2009-12, Merrill Lynch, according to the SEC: commingled customer funds, used them to cover its own obligations, & had it failed its customers would have been exposed to a “massive shortfall in the reserve account.” Which is essentially what the AG is accusing iFinex of. But whilst the SEC dealt with the Merrill Lynch case without causing panic and customer withdrawals, the move by the AG has sparked just that for iFinex. 7/ So…#NewYork did good investigative work here but needs to be called to task on why the double standard, and why the "gotcha" approach? Why not do the same to #WallSt firms when they play similar shell games??? — Caitlin Long (@CaitlinLong_) April 26, 2019 She also urged exchanges to clean up their acts regarding transparency and proof of solvency, to avoid such situations. The Problem? The Attorney General’s filing, asserts that the Tether funds were extended as a line of credit, over three years, with a 6.5% interest rate. An iFinex share charge, of 60,000,000 shares, secured the loan. Entrepreneur and commentator, Alistair Milne, Tweeted the situation rather succinctly, concluding that, as long as “Bitfinex trades profitably, no problem.” TL:DR the Tether/Bitfinex news:Bitfinex have borrowed ~700mil from TetherBitfinex pay a 'fair' interest rate on this loan60million shares in Bitfinex were pledged as collateralIf CryptoCapital release the USD, no problemIf Bitfinex trades profitably, no problem — Alistair Milne (@alistairmilne) April 25, 2019 Which brings us back to transparency and disclosure. If iFinex told customers and investors about this alleged ‘seizure’ and ‘loan’, then would they now have a problem? And is the AG’s ‘gotcha’ approach really warranted in any case? Is the NY Generaly Attorney acting in ‘bad faith’? Share your thoughts below! Images via Shutterstock The post Bitfinex: $850M Lost Tether ‘False Assertion’ appeared first on Bitcoinist.com.
Bitcoinist

New York Attorney General’s Office Accuses Bitfinex Of Covering $850 Million Losses Using Tether Funds

If you are our BitcoinExchangeGuide’s regular reader. You should already know about the shady connection between Bitfinex and Tether. This Thursday, a document by the New York Attorney General’s (NYAG) office revealed that iFinex, the company behind both Tether (USDT) and Bitcoin exchange Bitfinex, is being sued. In the press release, the attorney general Letitia […]
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