This week in Security Tokens 4/2019
🔥 Top 5 — Most important news of the week
- Bio-Tech Company Agenus aiming to raise $100 million using an STO
Agenus Inc. announced its Security Token Offering, launching the Biotech Electronic Security Token (BEST) in order to fund future drug development. The BEST token will be backed by AGEN2034, a immunology drug that renerated around $15 billion in revenue in 2018. Investors will have equity ownership and access to future sales of the drug, which is currently in pivotal preliminary tests.
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2. Official Launch of STOCOOP — a cooperative organization for STOs
Initiated and established by The Cabin Capital and OpenFinance, STOCOOP understands itsself as an international cooperative organization for Security Token Offerings. Last week at the Seoul Blockchain Convergency Summit, the official lauch of STOCOOP was announced. We wrote a short article about the purpose of this new formed coalition and outlined its 10 founding members.
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3. TokenSoft’s Beta — providing Custody Service for Security Tokens — goes LIVE
With the launch of „The Knox wallet“, TokenSoft Inc. is presenting the first cold-storage custody service that is designed specifically for Security Tokens. It is supporting ERC-20, ERC-1404, DS-20 (Securitize), ST-20 (Polymath) and Harbor’s R tokens as well as Bitcoin and Ether.
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4. 75 million POLY locked up for 5 Years
Polymath, a platform helping companies to issue Security Tokens, is locking up 75 Million POLY (from a total of 1 billion that were created) in a smart contract until 01.01.2024. The purpose is to safe-keep them and prevent these tokens from being compromised in a hack. POLY tokens can be used within Polymath’s platform to create Security Tokens, register token symbols, and use audited smart contracts to raise funds in an automated fashion.
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5. Symbiont closes $20M Series B funding round led by Nasdaq Ventures
Symbiont, a fintech company building blockchain applications for institutional players in the capital markets, received a $20m funding with participation from investors such as Nasdaq Ventures, Citi, Galaxy Digital, Raptor Group and others. In an interview with CoinDesk, CEO Mark Smith explained how his company can help to combine blockchain with traditional exchange technology.
He stated: „Symbiont will give Nasdaq the ability to originate a financial instrument and the smart contract to custody it on a blockchain, to allow trading to occur with their matching engine, to allow surveillance to occur across the network using Nasdaq technology and then to perform settlement on a blockchain” -> source
🖊️ From the Blog
Securitize: Why Security Tokens are the Future
In our new interview we are talking to Jamie H. Finn, Co-Founder & President of Securitize.io. Jamie helps us to understand how digitized securities can make the trade of private placements more efficient by shortening it from a 12-Step into a 3-Step process.
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⏰ STO of the Week
SEFtoken — USA
Token Type — Equity
The SEFtoken, Inc. is a tokenized warrant that entitles token holders to a direct investment in a fully regulated, licensed, exchange infrastructure.
Learn more about their STO -> here
💡 Knowledge of the Week
All you need to know about a Security Token Offering
The “Security Token Network” published a guide named “WhiteDeck” which provides a great overview on the purpose and functioning of a STO. More than 50 contributors from 25+ companies worked on this piece. In order to download the PDF you have to register to their Newsletter. -> source
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