Here is our pick of the 3 most important Security Tokens news stories during the week:
On February 8th, 2020, Flyt Property Investment announced the launch of Africa’s first-ever security token backed by property. The firm partnered with technology provider Bakari to create FLYT security tokens which are equivalent to one share in the Flyt Hospitality Fund.
Curator’s Note: We take the security of property for granted in the West, but property title is a problem for billions in the Rest of the World. So the fact that this Security Token is from Africa is significant.
Munich-based Bankhaus von der Heydt has partnered with blockchain financial services provider Bitbond to help integrate tokenization into its securitization platform. The partnership will allow the bank to tokenize digital securities onto the Stellar blockchain, which it can offer to institutional clients via private placements.
Curator’s Note: Deployment is expected in April. The Bank plans to offer customers a custody solution for tokenized equity developed by Bitbond and the Bank in 2019. The solution received approval from the German financial regulator. Bitbond received German regulatory approval for its tokenized bond in January 2019, launching Germany’s first regulated security token offering later that year.
In what’s being called a first for Switzerland, OverFuture has been allowed to incorporate for an initial public offering (IPO) of tokenized shares on the blockchain.
Curator’s Note: The firm’s IPO prospectus indicates an offering of 8,399,000 “common equity share security tokens on the Ethereum blockchain, with smart contracts provided by EURO DAXX, a digital assets exchange based in the country’s “Crypto Valley” city of Zug.
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