the Bitwala starts the round of financing for a planned Security Token service according to German law, with an ongoing private placement. The Bitwala Token (BWL) is a 15-year-long ongoing participation right, the been waiting on the approval of the BaFin. With the business Token, the company intends to combine the advantages of loans and equity.
By Phillip Horch
20. March 2019 BTC$4.015,28 0.58% Facebook Twitter LinkedIn xing mail
Bitwala has opted for Security Token – an obvious step to the ongoing success of the Bitbond STO, the first of the BaFin-approved of its kind. Now, the German Blockchain wants to join a Start-up Bitwala so. According to a press release, the ECHO is BTC, it should be with the business Token to authorize participation rights on the Blockchain token.
Whether the planned supply of Christoph Iwaniez, chief financial officer of Bitwala GmbH, optimistic:
We have opted for Security Token, because of the Form of financing fits in well with us: it is rock-solid, highly innovative, and offers to all a fair and transparent access to the opportunities of a tokenized Economy. The interest in our ongoing private placement is very large, in particular in the Asian region, we are well-known institutional investors in the final stages of the negotiations.
First of all, the funding is limited, however. So only “selected professional investors who invest more than 100,000 Euro are allowed to participate legally in our private placement,” Iwaniez.
the approval of the BaFin consists of
In the summer of this investment is to be spread opportunity, however, to the Public. The Problem: Until then, Bitwala still needs the approval of the BaFin, the Federal financial Supervisory authority.
From an investor point of view, the tokens are nevertheless promising. So you want to combine the advantages of debt and equity securities. Business owners, Bitwala continue to benefit from the financial success of the company in the Form of 15 percent of the Exit proceeds, as well as any dividends. In the case of an IPO tokens to get holders also have the opportunity to choose between two options. So you can pay off or your Token in the shares convert.
Ben Jones, co-founder and CTO of Bitwala, as it is a logical step:
It is a logical step for us, the Era of the Tokenization launch, we materialize our own company token and Bitwala as the first crypto-Bank provider of establishing. In the last few years, we have set a good example and have built up a worldwide recognized brand with a strong Community.
Currently, the company offers Blockchain-Banking. Customers have the ability to connect your Bitcoin Wallet with a Bank account and a debit card.
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