Official Berlin approved the application from the Bitbond blockchain platform.
While the US Securities and Exchange Commission (SEC) is scaring the US cryptocurrency business with draconian measures, if the tokens that appear appear to resemble securities, in Germany the authorities of the country have made a de facto turn towards such financial instruments.
This can be judged based on the fact that the German-based blockchain platform Bitbond announced that it is launching STO , that is, selling tokens, which it positions as a digital blockchain analog of bonds with a target yield of 8% per year. The company has been going to this since February, but so far all the formalities with regulators in Germany have already been settled.
Tokens will be available for sale worldwide, with the exception of the United States and Canada – those countries where the release of such digital assets is accompanied by significant difficulties, as well as their circulation.
In total, it is planned through the release of such assets, which have received the name BB1, until the 8th of July to attract financing in the amount of 3.5 million euros. BitBond intends to allocate the funds received to various small business projects, which it supports with the help of small loans on the blockchain .
This event shows that official Berlin fulfilled its intention, which became known in March of this year. The recognition of such tokens is a competitive bid for attracting companies from the USA and Canada to their country who are dissatisfied with the restrictions that local authorities place there.
Meanwhile, since the beginning of 2019, three small STOs (Cryptune, Zensports and Fitblox) were held in the USA, which in total attracted only 1.6 million dollars. In the current year, the UK became the leader in terms of funds raised through STO: a total of $ 6.74 million was invested in the Gigzi, Cardonio, Medibit, Sonata.ai and Sports Ledger projects.
Publication date 05/31/2019
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