In the past weeks we have received an incredible amount of support from our community and stakeholders, while we worked on finalizing our alternative plan for SwissRealCoin. We are grateful and humbled to have such a great community that believes in the SRC project, the team and our vision.
In February 2018 we have applied for a letter of no action from FINMA. The aim was to launch the SRC ICO in May 2018 in compliance with the newly issued FINMA ICO guidelines. As the full “green light” from our financial regulator was not received on time and as integrity towards our investors and stakeholders is our highest priority, we now take action also in respect to the Collective Investment Scheme Act to ensure 100% compliance. This results in a change of timeline for the SRC token sale.
What happens next?
We want to take more time to do things the right way. For now, we are focusing on the product development of MIA, our blockchain based AI software for automated real estate asset management. Read more about the development of MIA here. Simultaneously we’re working with relevant strategic partners to do a SwissRealCoin STO (Security Token Offering) in Switzerland at a later stage.
The Rise of Security Tokens
Asset backed projects and security tokens are gaining more and more relevance this year and are expected to become a hot topic in 2019 — although the markets and regulations aren’t fully ready yet. We want to change that and together with other industry players, we are at the forefront of paving the way for security token offerings in Switzerland.
We are excited for the road ahead and will be sharing updates regarding our progress very soon.