CurveBlock to Hold Security Token Offering Accelerated by UK Commercial Bank
Real estate development company CurveBlock will be holding their own security token offering. The STO will be the first such offering to be done in conjunction with UK NatWest’s Bank’s Accelerator program.
The United Kingdom has been awfully quiet on the security token question despite the industry growing in Europe. That is quickly changing, however. A few weeks ago, the UK Financial Conduct Authority released their first-ever consultation paper on security tokens and other crypto-assets. Other companies, like Fineqia, have been moving to issue tokenized bonds in the country.
The Associated Press is reporting that CurveBlock, a real estate development company, will be announcing its own security token offering. What makes this special, however, is that CurveBlock is the first security token company to be accepted into a commercial bank accelerator program.
A Paradigm Shift
CurveBlock has been accepted into UK NatWest Bank’s Accelerator program. The goal, according to Gary Woodhead, CEO of Curveblock, is to bring real estatement investment to the masses.
“Banks have always been the stumbling block at the early stages in real estate development. CurveBlock is removing banks from this choke point by being a fully liquid company that can take advantage of all opportunities, regardless whether banks are loaning money or not. We are happy to partner with NatWest bank for the sales side of development,” he told AP.
With experts in place, CurveBlock is looking long-term. Aiming to be ecologically and sociologically responsible, the company will also be providing support to low-income housing needs with 5% of their profits.
The STO is yet to be announced. Stay tuned.
What do you think of CurveBlock’s STO? Are security tokens coming to the UK? Let us know your thoughts below.
Image courtesy of CurveBlock.