BaFin Approves ParkinGO’s First Cross Border Security Token Offering
More good news coming into the crypto space as the German Federal Financial Supervisory Authority or more commonly known as BaFin has just recently approved the first ever cross-border security token offering for ParkinGO. The company is said to already be issuing digital securities on Luxembourg’s token issuance platform, STOKR. As such, accredited investors not just in Germany but those from the other 21 European countries involved with BaFin would now be able to participate in this digital security offering.
That’s not really unexpected as BaFin has already approved several STOs in the past but STOKR states that this is the first “truly negotiable equity instrument.” They say this mainly because of the security is available for secondary transactions while all of the rights attached to the digital asset is in tact. They make this possible by allowing the issuers to basically maintain investor register on-chain and on a decentralized network at that.
As for ParkinGO, they originated in the mobility and airport parking sectoral business but as time went on, they decided to go about with an STO and now, their digital security called “GOTS,” are both being issued and traded using blockchain technology. Currently, the company is active in 9 different countries in Europe with an estimated user base of 2.7 million customers.
They didn’t stop at that though as they opted to offer both institutional investors and retail investors via private and public offerings respectively. They also added in the possibility of investing in their company through the Luxembourg-based special purpose vehicle and in return, they’re more than happy to give a share of their revenues. Investors may expect up to 10% revenue sharing in accordance to the terms they initially offered.
Their coin, GOTS, is a very unique hybrid-equity instrument where the company commits to sharing a percentage of their annual revenue with all of their investors. It uses the Ethereum blockchain for issuance using an ERC-20 compatible smart contract framework, developed by and named as the STOKR Framework.
In the world of Crypto, finding the right people to do the job can be troublesome and difficult at best. This is why at FIAT Exchange, we offer an all-in-one service encompassing everything there is to launching a token offering, as well as ensuring that everything is safe and transparent with all of the legalities done first. As a pioneer in the consensus industry, we offer the tools to democratize access to finance and through our platform, investors, start-ups and established companies are able to find opportunities they otherwise never would have.
At FIAT Exchange, we have consultants to help innovative start-ups, promising businesses and even well-established corporations launch their own Initial Exchange Offering, Initial Coin Offering, Security Token Offering or Reverse Token Offering effectively, efficiently and successfully. As a constituting body, we act as partners and assist each and every project from compliance, fundraising, and to final listing in our Digital Marketplace.
While there already are other operating equity crowdfunding platforms in the European Union, we are the first to expand to become a broker-dealer and introduce to our investors an alternative Smart Securities layer, offering a secondary market where investors can trade their startup securities.
If you are an Investor looking to unlock access in the FIAT Exchange ecosystem and discover new investment opportunities or if you are an Entrepreneur looking to raise capital, we can definitely help! Please feel free to contact us: support@fiatxs.com
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