The German Federal Financial Supervisory Authority (BaFin) has issued another permission to conduct regulated sales of security tokens (STOs). The Luxembourg-based financial firm Black Manta Capital Partners (BMCP GmbH) has received appropriate approval.
CELEBRATIONS – It's official, @BlackMantaCap got BaFin approved! https://t.co/dPdWXY5VX8 #STO #Tokenization #Securitytoken pic.twitter.com/iN4wkCd2t3
– Black Manta Capital (@BlackMantaCap) August 19, 2019
Earlier this year, Bitbond's Bitcoin lending platform received permission to conduct an STO to raise € 3.5 million.
According to BMCP, permission was obtained on August 1 after nine months of review of the application.
Now the company will be able to offer tokens for sale that display the rights to assets and are managed by onchain contracts. Such a system is supposed to provide access to capital for small and medium-sized enterprises, real estate projects, commodity markets and funds, while investors are given new opportunities for investing.
BMCP intends to hold the first proposals of security tokens in the fourth quarter of 2019.
The company's further plans include launching investment platforms in Austria and the Malta Stock Exchange, as well as entering the Singapore market, where it intends to obtain a similar license from a local regulator.
Recall that in July BaFin approved the token sale of the Berlin blockchain startup Fundament Group for a total amount of 250 million euros. At the same time, the campaign will be available to both accredited and retail investors without restrictions on the size of investments.
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