The Tokenization of companies, real estate and other assets has just begun. Countless Token service provider to bring in the start position to the tokenization in the race at the very front of it. So Black Manta Capital and Tokeny who have given their cooperation. How the collaboration will look like, what is a Multi-STO-platform, and how the Token market in the next three years to develop, have Christian Platzer of Black Manta Capital and Luc Falempin from Tokeny reveal in the Interview.
By Sven Wagenknecht
On 29. October 2019BTC$9.340,48 -0.64%part Facebook Twitter LinkedIn xing mail
BTC-ECHO: In the last few months very many STO platforms are created. Now you offer a so-called “Multi-STO-platform”. What’s up with that?
Christian Platzer: We see the world varied applications of Tokenization, but not everything moves in the regulated financial market. Only a fraction of plays in the classical field of securities. We assume that in Germany at the BaFin, a couple of hundred applications for STOs lie, of which a few have been approved. What happened until now, on single platforms. But we want to centralize on a platform in the traditional investment area, a variety of data tokens, and investors. Of real estate to companies of funds to raw materials. After an intensive search, and now months-long collaboration and we are sure that we have found Tokeny Solutions in Luxembourg, the right technical Partner to our service in the whole of the European Union.
Luc Falempin: Among the many STO-platforms on the market there is no that provides the Issuer with a first-class service and at the same time access to registered, active investors. Tokeny Solutions was one of the first tokenization provider in the industry. This experience we were able to develop a safe and fully functional Service for STOs. Today, we have a proven White-Label technology that allows our customers to get to market quickly. In the meantime, we have about 30 clients, which include issuers in a number of asset classes. Through the deployment of the technology, you can focus Black Manta Capital on what you do best. Namely, a very strong investors community for the Issuer to build.
BTC-ECHO: the cooperation between Black Manta Capital and Tokeny looks for, specifically, who does what?
Luc Falempin: We provide in the Black-Manta-Investment platform, the tokenization element for each STO available. We provide a White-Label technology to facilitate first of all, the digital Onboarding of investors. The second Element is the Token formats for regulated exchanges (T-REX) are. The T-REX is a Suite of blockchain-based solutions for the issuance and management of compliant Security Token in a distributed infrastructure. In this way, we can create for the Issuer a series of Smart Contracts that the respective capital market regulatory obligations. On the Black-Manta-platform, companies can carry out following the issue of the management of the Token-holder to organize or capital actions such as dividend distributions.
Christian Platzer: Black Manta Capital manages each STO from A to Z as a One-Stop-Agency. We design in close cooperation with our customers, the legal and financial structuring of an issue. Each offer is tailor-made. We have in – house Expertise, a company, or offer reviews to the test. As a mediator, we must keep both sides of the deal balanced in the eye. The interests of the Issuer on the one hand, but also the interests of the Investor on the other. Our own interest in is that the investor is satisfied with his Investment and he can think again to invest in the next STO. We are also as a regulated financial services institution for the KYC (Know Your Customer), so the identification and Verification of investors, responsible. Black Mantas task is to ensure Compliance.
BTC-ECHO: Is there an industry focus in the Tokenization? So, for example, Start-ups or real estate?
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Luc Falempin: There is no real industry focus. However, we find the estate particularly appealing. The MSCI reported that the professional rose managed global real estate investment market of 7.4 trillion dollars in 2016 to 8.5 trillion US dollars in 2017. However, there are some challenges. There are many isolated and independent networks operated by individual market actors. Between this Transferability, there is little, whereby many of the inaccuracies and slow processes in the market. It is precisely here that the tokenization can be applied. The end result is that the costs for the administration of the estate be reduced, the liquidity due to quick transfer is improved and the investment opportunities globally can be distributed, whereby in General, the accessibility will be improved. This is a Win-Win Situation for both investors and issuers. But other asset classes can rationalize in the same way, management tasks, so that the interest in the market on a month-widened-to-month.
Christian Platzer: Basically, all the possible values of a token can authorize: works of art or film productions to precious companies metals or large. We have as Black Manta Capital no industry focus and look at basically all of us referred to the projects. At the end of it, the question is: How exciting, a STO for the investor? For this purpose, we have internal criteria, according to which we examine possible STOs, and on the basis of which we decide whether we want to handle a STO.
BTC-ECHO: when and where will be the first STO-projects for investors available?
Christian Platzer: We will enable private and institutional investors in the course of November, our website zu have to register. The first STOs are in the structuring phase, and we have an exciting Pipeline for 2020. I think we can already reveal so much that we are very likely to launch in Germany with a real estate project in the first quarter of 2020. Other STOs in other EU countries are in the planning.
BTC-ECHO: there Will be a public STOs, where even small investors can participate?
Christian Platzer: Yes, up to a specific STO in our Pipeline that should only go to institutional investors, they will be almost all of our projects for retail investors in the open. This means, of course, a certain amount of legal effort and a certain amount of preparation time, because the capital market created brochures and by the Supervisory authorities, must be approved.
Luc Falempin: in The end, it comes down to the needs of the company. The involvement of investors depends on requirements such as fixed to the case-law of the asset and the investors from the thresholds. Once this is defined, we will ensure that these legal obligations are to be programmed in the Token so that the compliance with the provisions will be enforced.
BTC-ECHO: What are the main advantages for investors that can invest in your tokenized projects are, in your opinion?
Christian Platzer: The investor who invests in a STO on the Black-Manta-platform, get a hand-picked, from us-approved investment product. We examine the valuation and explain the forecast of the Emission. We provide the Compliance in the respective country of the Offerings, in the respective jurisdictions. The investor always has us as a mediator, available to him as a contact person. The advantages of the STOs to lie on the Hand. The principle, to acquire the piecemeal ownership of Token, enables a whole new part of assets, which, in particular, small investors were still closed. Most of the STOs will have a very low entry threshold and far cheaper transaction costs for both sides offer.
BTC-ECHO: What is the legal embodiment of the Token? It is bonds?
Christian Platzer: is The legal embodiment of the Token depends on the project and the needs of the Issuer. We can be called on both debt instruments (such as bonds) and equity-like instruments (such as substance enjoyment of rights) to the Token verb. For us it is important that we are able to allow the Issuer flexibility in the structuring of Financing and he does not have to squeeze in a pre-defined regulatory scheme. Our focus is clearly on Equity and Equity-related instruments to give investors access to, and ownership of attractive values on the market often professional large were reserved for investors.
BTC-ECHO: How do you assess the development of the market of Security tokens within the next three years? Are Security tokens still be an absolute niche topic, or even in the traditional financial sector have taken?
Christian Platzer: The next year, a key year for the establishment of Security tokens with security. Not only the stock exchanges in Stuttgart and Frankfurt are working on the establishment of the appropriate trading venues. We will see a European race. As Black Manta, we welcome the positive signals from the German Federal government is, Blockchain, and digitization further and also the BaFin has made some of the first pioneering steps, the smaller countries, smaller regulatory authorities to closely monitor. The Potential of Tokenization is huge, but the market is still in its infancy…
Luc Falempin: …if you look at where we were this time last year, was the industry of the differences between ICOs and STOs still not aware of. On the market there was a lot to learn and we have contributed a large part by presented case studies and developed ideas about this topic. In particular, in the case of financial institutions, this was of crucial importance, and we were very proud to announce in the summer, the largest exchange in the Eurozone, Euronext, as our Investor. The market moves so quickly.
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