STP Closes $5m Funding Round
The Standard Tokenization Protocol team announces the successful $5m close of its first round of funding
We are pleased to announce the completion of our first funding round of $5M which saw widespread participation from across the globe. Despite overwhelming demand from concentrated regions in Asia, we strategically allocated the raise to include many different regions across the world and further avoided investor centralization by placing tight restrictions on the maximum amount one could invest. In addition, we have set aside a small portion of the round for early community supporters which will be distributed by the end of the week.
VCs and crypto funds that wanted to invest larger than the restriction will be part of a second round that will double the valuation of the previous round. These measures were implemented to ensure a fair and truly global raise for Standard Tokenization Protocol (STP) because we have seen that throughout both bull and bear markets, a project’s most valuable asset is its community of users and supporters.
STP will utilize Block72’s deep industry knowledge, global reach, comprehensive resources, and community building experience
Block72’s close involvement with the STP project was a leading factor in the success of the round. Block72 has worked with more than 50 projects over the last few years including top blockchain projects Ontology, Basic Attention Token, Hedera Hashgraph, Algorand, Decentraland, and has backing from top crypto funds including GBIC and FBG Capital.
STP will utilize Block72’s deep industry knowledge, global reach, comprehensive resources, and community building experience to efficiently integrate and utilize the community for high-quality blockchain assets. This will be primarily focused on digital asset issuance in a transparent and decentralized manner that will incorporate issuers, retail investors, institutions, and end users. STP’s unique features of automated compliance, programmability, and onchain crowdfunding unlock innovative ways for digital asset issuance that cannot be achieved by existing solutions such as IPOs, ICOs, or IEOs.
With backing from top investors and a community of passionate supporters, we are on our way to build a transformative open network for the tokenization of any asset. Visit stp.network for more information, or message firstname.lastname@example.org to get involved.