TokenMarket raises £240,000 through STO, above goal

(source: Unsplash/Andre Francois McKenzie)

Last Updated on Wednesday, 24 July, 2019 at 12:14 pm by Christian Keszthelyi

TokenMarket has ended its Security Token Offering (STO), achieving of 158% of its funding goal of £150,000 by raising over £240,000, according to a press release by the company. TokenMarket eyes opening securities exchanges in Malta and Dubai, with regulatory approval for these countries currently pending.

TokenMarket says it is now closer to exiting the UK Financial Conduct Authority (FCA) Sandbox which it has operated in since 2018. In doing so, the company intends to become a fully-regulated investment platform and authorised to help innovative and growing businesses raise capital through STOs.

TokenMarket CEO Ransu Salovaara and CTO Mikko Ohtamaa agreed that reaction from their peers has been “incredible”, chich reinforces them in their belief that their work in the tokenisation and blockchain space “has all been worth it”. With a growing pipeline of upcoming STOs, they look forward to introducing TokenMarket to a wider audience.

TokenMarket wanted to show that tokenised equity could be written to the blockchain and democratise investment opportunities for all investor types, starting with its own STO, the press statement sent to BM says.

“Our goal has always been to give equal access to all investor types. With our work in the FCA sandbox now almost over, and our demonstration of placing tokenised equity on the blockchain, we are one step closer to bringing the next generation of disruptive businesses to our investment community,” Mr Ohtamaa added.

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