STO in Austria: Blockpit returns a Security Token via Conda

the Austrian Start-up Blockpit plans, a Security Token Offering (STO). The crypto-tax service providers using the CRWD network of Conda. The TAX Token is to guarantee a revenue participation in the Form of a profit participation right.

By Christopher clover
12. April 2019BTC$5.048,63 -0.12%part Facebook Twitter LinkedIn xing mail

This article was 12.04. 13:34 updated.

The da-CH Region, has reported a new STO: The Austrian crypto Start-up Blockpit would like to collect output from a Security Token investors ' funds. The planned TAX Token represents a revenue participation in the Form of profit sharing rights and therefore no voting rights. At the same time, the Token Sale for the baptism of fire of the CRWD network.

In the CRWD-network is the STO-platform of the Crowdfunding company is Conda. On its Website Blockpit-chief Florian Wimmer explained why he has opted for this Form of Funding:

We have decided for a number of reasons for this, a new financial instrument in the framework of the financing for the company. Compared to a traditional investment round, for example, the issue of shares or Venture Capital, you can address with a Security Token as an entrepreneur, similar to Crowdfunding as a mass-market and the offer flexible.

The width of the mass – in this case, up to 149 private investors per EU country, as well as any number of institutional investors. For more private investors blockpit would need a securities prospectus. The cost for the creation of such a blow, however, the Budget of many SMEs.

Conda followed in the medium term, ambitious goals:

Our goal is to create a cost-effective and efficient standard process for such a Token Offering already in 2019,

it is said in the press release. Then when the STO be no mention of it found is in it, however.

Austria's first STO?

in November, an Austrian company announced, the first Security Token Offering of the Alpine Republic. The Cloud Mining provider, hydro miner, IT Services, wanted to bring February of this year, the Security Token H3O under investors in people. On the company's website, the talk is now of a Token Swap: H2O tokens can be exchanged at a ratio of 1:50 against H3O. The H2O will only be traded on decentralized Exchanges, IDEX and ether Delta.

UPDATE: Blockpit in the meantime has made contact with BTC-ECHO and in the correct position, the following points requested: The STO has already been carried out. The issued TAX Token is to be found on ether scan. A Public Offering is to be made towards the end of the year. A brochure is expected to be at the end of Q3. The STO itself is also performed with the youniqx Identity AG. The Causa hydro miner Blockpit writes: "The addressed the hydro-miner STO was approved as the first of the FMA in Austria, however, never issued and, to our knowledge, is blown off now. Our STO, however, was issued as the first in Austria to investors. Therefore, the statement that we are the first issued by STO is right.“

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