Germany’s Black Manta Capital Partners has launched a security token offering (STO) for Berlin real estate worth more than $12 million. The project is a collaboration with the German real estate firm Tigris Immobilien and includes around 2000 square metres of real estate in total, mostly comprising individual apartments from 40 to 60 square meters in size. Construction is expected to be complete by 2022 and units will be sold to investors and owner-occupiers. Token holders will share 20% of the sale profits through securitized participation rights. The company said the tokens will enable ordinary investors “to participate in a …

European businesses may soon have a new jurisdiction in which to experiment with security tokens while regulators evaluate the pros and cons. France’s markets regulator, the Autorité des Marchés Financiers — or AMF — is considering a regulatory sandbox meant to study the impact of security tokens in the European Union. The AMF announced on March 6 that it proposed a European “Digital Lab” regulatory sandbox allowing local regulators to waive requirements related to security settlements. The regulator hopes that such measures would result in the development of security token market infrastructure that could lead to a secure legal environment. …

The Eastern Caribbean Securities Exchange (ESCE) plans to partner with Canadian-based digital asset marketplace provider Blockstation to pilot security token offerings (STOs), according to a Letter-of-Intent published on March 10. Blockstation is slated to provide a platform for listing, trading, clearing, settlement and the compliant tokenization of digital assets. The ECSE was the first regional securities market and stock exchange in the western hemisphere and was established by the Eastern Caribbean Central Bank (ECCB). The ECCB administers the eight members of the Organisation of Eastern Caribbean States — Anguilla, Antigua and Barbuda, Dominica, Grenada, Montserrat, Saint Kitts and Nevis, Saint …

Let’s talk about Tezos (XTZ). For a long time, the joint United States–Swiss altcoin has had a strong reputation, yet a checkered past. Only recently has the price begun to reflect the faith that many already had in the protocol. However, is the rapid rise of Tezos justified, or is it another case of crypto “FOMO”? Let’s talk about the market Tezos hit highs of around $3.90 in February this year. The price has subsequently pulled back, but overall, XTZ is still outperforming the majority of altcoins. This drop does not appear to represent a lack of interest from the …

Texas-based Commercial Real Estate (CRE) marketplace Red Swan has tokenized $2.2 billion worth of real estate assets in partnership with security tokenization firm Polymath. Red Swan said it has 30,000 accredited investors already registered to use its platform, and has plans to tokenize a further $4 billion in property over the longer term. Red Swan will profit by keeping a percentage of the equity sold. The issued tokens represent 16 top-tier properties including mid-rise and high-rise apartments in California, New York, and Texas, and a 150-acre hemp farm in Canada’s Ontario province. Tokens worth $780 million will be sold in …

The Malta Financial Services Authority (MFSA) has released feedback on the definition of security tokens and challenges such assets face in Maltese markets. In a paper published on Feb. 25, the agency gave feedback on security token offerings (STO) from 18 industry stakeholders, including national agencies, regulated businesses, technology providers, law and consultancy firms, among others. The MFSA initially asked industry stakeholders to provide their opinions and advice on the definition of STOs last July. It also asked for their assistance in interpreting the challenges STOs face within the existing legal framework. The MFSA noted the absence of clear definitions …

The United States Commodity Futures Trading Commission has recently weighed in on the Security and Exchange Commission’s ongoing legal battle with Telegram by filing a letter that contained its views on the case. According to the submitted document, the CFTC’s Office of General Counsel believes that all digital currencies are commodities, thus implying that Telegram’s Gram token is not a security and therefore not subject to registration under the Securities Act of 1933. With that being said, the CFTC did concede that the Commodity Exchange Act does afford certain securities with the status of being commodities — to which security …

ConsenSys, a major blockchain firm founded by Ethereum co-founder Joseph Lubin, has acquired an American broker-dealer, Heritage Financial Systems. Heritage, a broker-dealer registered with the United States Securities and Exchange Commission (SEC), has been acquired by ConsenSys’s own broker-dealer, ConsenSys Digital Securities. ConsenSys’ blockchain-powered commerce and finance arm ConsenSys Codefi announced the news on Feb. 4. Heritage acquisition to bolster ConsenSys advisory and broker-dealer capabilities By purchasing Heritage, ConsenSys intends to reinforce its advisory and broker-dealer capabilities that will help the firm to implement blockchain technology for issuing tokenized bonds offerings in the municipal market. Emma Channing, a representative of …

For businesses about to embark on periods of rapid growth, access to capital is essential. That said, traditional methods of fundraising sometimes leave a lot to be desired. Initial public offerings can help boost the profile of fledgling brands, but they are often costly — with middlemen taking a sizeable cut out of the money generated. Cryptocurrencies and blockchain have upended the status quo, removing intermediaries from a plethora of businesses that we all use every day. Their impact is also being felt in the private equity sector — with entrepreneurs getting an opportunity to connect with consumers directly in …

Earlier this week, a story published by Chinese state-run media outlet Xinhua featured some pro-Bitcoin comments that referred to the flagship digital currency as being the world’s “first successful application of blockchain technology.” This latest endorsement comes against the backdrop of China’s stringent anti-crypto stance, wherein the country’s lawmakers implemented a blanket ban on its local cryptocurrency exchanges as well as initial coin offerings back in 2017. The aforementioned Xinhua article takes a balanced approach toward crypto tech, outlining the history of Bitcoin’s development and its overall evolution. It starts off by asking readers the question “Does BTC present the …

Overstock’s blockchain arm tZERO will provide its technology to tokenize River Plaza, a luxury residential development in Manchester, United Kingdom. Following a partnership with U.K.-based real estate investment firm Alliance Investments, tZERO plans to tokenize at least $25 million of River Plaza on the Tezos blockchain, according to a press release on Oct. 30. A 180-unit luxury residential development, River Plaza is the first initiative of Alliance Investments’ real estate tokenization plan to tokenize around $640 million of real estate projects across the U.K. over the next several years. The security token offering is expected to launch in Q1 2020. …

After initially seeking to ban Bitcoin in 2013, Thailand has since developed a permissive regulatory apparatus for digital currencies and cryptocurrency fundraising methods. Thai financial services firm Seamico Securities recently announced that it has received approval from the country’s Securities and Investments Commission (SEC) to operate its subsidiary, SE Digital, as a regulated initial coin offering (ICO) portal. In doing so, SE Digital obtained permission to launch the first legitimate ICO in Thailand, with the company announcing that it hopes to raise between 2 billion and 3 billion Thai baht (between around $66 million and $99 million) through the token …