the The lending company may Bitbond perform Germany’s first Security Token Offering (STO). The sale of tokens of localized bonds by Bitbond has received an order from the German Federal financial Supervisory authority (BaFin), the highest regulatory blessing. The STO has an emission volume of EUR 100 million.
By Christopher clover
18. February 2019BTC$3.860,48 6.50% part Facebook Twitter LinkedIn xing mail
may Bitbond to hold Germany’s first Security Token Offering (STO). The crypto Start-up on 15. February on its Website. The Federal financial Supervisory authority has approved the securities prospectus of the company. Thus, it is now open also to private investors to participate in the STO.
BB1: bond on Token-based
The first, virtual round of Investment starts at 11. March. The offered Security Token bears the name of Bitbond1 (BB1), and according to the brochure, a “token-based bond”. A BB1 should have the equivalent of one Euro. The issue volume amounts to 100 million euros. Who is involved in the first round of financing, will receive a discount of 30 percent.
lawyer Eric Romba, of the law firm of Linden partners for drawing up the Prospectus are responsible. In a press release, the ECHO is BTC, praises Romba capitalised, the innovation of the new investment product:
the Bitbond Finance GmbH product offered a token and the prospectus, the bond is an Innovation. The structure allows to go in the future with a regulatory compliant documentation, but without the interposition of the Intermediary and without a Central custody certificate bonds. In addition, the gate opens, to make previously illiquid Assets via Blockchain Token cash.
Eric Romba, Linden partners
return in XLM
the term of The bond is ten years. Bitbond promises an annual interest rate of four percent (one percent per quarter) on the invested capital. For this purpose, a variable Bonus that feeds 60 percent of the net profit of Bitbond Finance. In the prospectus, it is stated:
The variable interest rate for an interest period is the percentage rate that results from the fact that 60 percent of the to the extent existing on – year income before taxes (without taking into account the variable rate of interest) according to the identified and audited annual financial statements of the Issuer for the interest payment date for the variable interest rate preceding fiscal year by the total par value of the outstanding Token is shared based bonds.
anyone Who wants to invest can do so in euros, Stellar Lumens (XLM), Bitcoin (BTC) or Ether (ETH). The repayment as well as due payments of interest on the part of Bitbond is to be carried out in the Form of XLM.
Read also: BaFin-warning: the Bitcoin Revolution is not a certified Institute
We already
licensed to The core business of Bitbond is the granting of loans to enterprises and self-employed. The processing of the loans is done through crypto-currencies. The 2013 Start-up has awarded, according to their own information yet about $ 15 million in loans. The STO Bitbond can hope to see fresh liquidity through private investors. Already a year ago, Bitbond CEO Radoslav Albrecht on BTC-ECHO optimistic about the regulatory landscape in Germany – and no wonder: after all, it is Bitbond the only crypto Start-up with a BaFin-license.
There are no serious problems, however, it is always a triad of Fundraising to be able to our capacities expand, Fund-raising and the debt capital side, to be able to take more loans to Finance and the Recruiting and the search for the right people. These are normal operational processes. I see very positive in the future.
With the blessing of BaFin is the root note for this triad.
Blockchain and Fintech Jobs : looking for a new challenge? In our job Board your current job ads from the Blockchain and Fintech companies.
