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Blockport Partners with Tokeny and Begins Its STO
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Blockport, a social crypto exchange, has announced that it will be holding its STO on the Tokeny platform. The STO begins today, April 15th.
Tokeny is trying to position itself as one of the leading platforms in the STO space and it now has yet another STO under its belt. The platform will be hosting Blockport’s STO which is set to begin today on April 15th.
Tokeny has been building many high-profile partnerships behind the scenes since late 2018. For example, it announced a partnership with the Security Token Network in December 2018. It was then that it also released its own security token standard called “T-REX.” The platform hopes that by having its own standard, it can set the tone for the rest of the industry.
Blockport plans to raise between EUR 15M – EUR 30M in an STO that will take place over multiple stages. The first stage aims to raise EUR 5M from investors in both Europe and the United States. The reason Blockport chose Tokeny was because of their stellar track record, being one of the leading issuance platforms in the industry. Moreover, they trust Tokeny to prepare a fully-compliant STO.
The Blockport Securities Token
The STO will put up Blockport Securities (BPS) up for sale. Each BPS represents a repository receipt or certificate for a corresponding share in the company. Each token holder is entitled to dividend payments. Blockport has stressed that their STO is among the first compliant offerings in Europe.
Of course, being on the Tokeny platform, BPS will adhere to Tokeny’s T-REX standard. BPS can be purchase with EUR, USD, BTC, or ETH.
Tokeny CEO commented on the Blockport STO positively saying:
“One of the key benefits of tokenized securities is that when compared to traditional methods, they bring private opportunities to a significantly wider pool of investors. The Blockport offering is truly cross-jurisdictional, and will allow retail and qualified investors from the European Economic Area and accredited investors from the United States to participate.”
You can visit the Blockport website for more details.
Will you be participating in the Blockport STO? Will Tokeny be successful in the long-run? Let us know your thoughts below.
Image courtesy of Blockport.
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Tim Fries
Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim served as a Senior Associate on the investment team at RW Baird's US Private Equity division, and is also the co-founder of Protective Technologies Capital, an investment firm specializing in sensing, protection and control solutions.
