STO Weekly Review by Evercity 12–18.11.2018

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❌The Securities and Exchange Commission has ordered penalties against two Initial Coin Offerings: Paragon and Airfox. According to SEC, both the companies failed to register their ICO tokens as securities and will now have to pay $250,000. Most notably, all affected investors in either company have an opportunity to request a refund.


🇨🇭Lykke, a leading Swiss blockchain-based exchange and Nxchange, a fully regulated Market / Multilateral Trading Facility-licensed Dutch securities exchange platform partnered up to launch a fully regulated tokenized securities exchange in Europe. The platform and exchange will allow any type of tokenized asset or security — equities, bonds, loans, investment products — to be traded within an MTF regulated and compliant environment.

🌌Billionaire investor Michael Novogratz, Galaxy Digital CEO and founder, has plans to invest in “tokenization” of assets such as real estate, according to Bloomberg. Novogratz predicts there will be an increase in the sale of tokens that represent real estate debt and equity. Galaxy hired a real estate investment specialist from Goldman Sachs to work on the project.

💰Heliconia Capital Management and Singapore Exchange (SGX), two major financial organizations have invested in Singapore-based Security Token Offering (STO) platform iSTOX. iSTOX claims to be Singapore’s first recognised issuance/trading platform for STOs, and is in the process of obtaining licensure from the Monetary Authority of Singapore. All issuances on iSTOX will be bought and sold using fiat.


🔨A new California law will allow certain corporations to use blockchain technology for certain corporate records; privately held companies and social purpose organizations qualify.

Specific corporate records include issuances and transfers of stock and number of shares registered in the name of each stockholder.

🇸🇬The Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) have successfully developed Delivery versus Payment (DvP) capabilities for the settlement of tokenised assets across different blockchain platforms. This will help simplify post-trade processes and further shorten settlement cycles.

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