Blockport, the first social crypto exchange, has confirmed that it will launch their Security Token Offering (STO).
The first round will take place on 15 April and they are aiming to raise EUR 5M from investors in Europe and the United States. The round is part of Blockport’s wider strategy to raise between EUR 15M and EUR 30M in multiple stages. The security token, Blockport Securities (BPS), represents a depositary receipt or certificate for a corresponding share and entitles holders to applicable dividends payments. It is the first compliant STO targeting retail investors in Europe. The tokens will be issued using Tokeny’s T-REX (Token for Regulated Exchanges) standard.
Kai Bennink, Blockport Founder & Chief Strategy, talked about issuing the security with Tokeny,“We’re working with Tokeny since they’re one of the leading issuance platforms in the industry and one of the few that have helped multiple companies successfully issue security tokens. Besides the technical side, Tokeny has a strong partner network and they can connect us with all the necessary parties needed to issue a complaint STO.”
Tokeny CEO, Luc Falempin commented, “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. This opens up the opportunity for Blockport to access new investors and the potential for a worldwide investor base.”
Blockport will issue their token in the United States under Rule 506(c) under Regulation D of the United States Securities Act of 1933 to accredited investors and a separate offering to investors in Europe and other participating countries. The STO symbolises Blockport’s ambitions to expand into the United States and further solidify its position in Europe.