Newfoundland has announced the launch of the Equity Token Offerings (ETO) for the E-Mobility Start-up Greyp. In the ETO, even small investors can participate – and in the ranks of the Greyp investors to join, to one of which the car maker Porsche.By Christopher clover
17. September 2019BTC$to 10,224,05 0.63%part Facebook Twitter LinkedIn xing mail
Newfoundland has the Liechtenstein financial Supervisory authority FMA approval for the sale of token-cap companies, shares in the framework of an Equity Token Offerings (ETO). The Berlin-based FinTech companies will digitize the shares of the E-Mobility Start-up Greyp, and in the Form of a crypto-Token, investors have to offer. Greyp is supported by the car manufacturer Porsche.
By the FMA-approval will now have even small investors the opportunity to participate in the Fundraising. This is from a press release from Newfoundland, the BTC-ECHO is present. It States:
The platform has received from the financial market authority in Liechtenstein, the approval of public offers with a minimum investment of only 10 Euro and is for investors of any size accessible.
A look at the Declaration of intent to the ETO revealed, however, that the smallest ticket size is 100 Euro. The decision on the amount of the minimum investment in the hands of the company, explains Neufunds Head of Impact Jeremi Jak to BTC-ECHO:
As a platform, we allow companies, the minimum ticket size set at EUR 10, but the final decision lies with the company that runs the offer. The companies have even opted for the minimum investment size and Greyp for 100 EUR.
Also, German retail investors are allowed to participate, according to Newfoundland in the ETO. Because it was a Europe-wide offer that could advance the German Federal financial services Supervisory authority, the ETO is no bar:
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We work according to European law and Greyp may appeal to investors worldwide. Similar to German investors in IPOs in Paris can participate, you can also participate in IPOs in Newfoundland. The BaFin, as the national regulatory authority has nothing action do with a Europe-wide deal to,
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Jak continues.Prime Minister Hasler welcomed Neufunds decision for Liechtenstein
Newfoundland has in this country, carried out by the end of 2018, a ETO for their parent company, Fifth Force. However, were that only large investors can participate. Reason of a default by the German Federal financial Supervisory authority (BaFin), after the issue of securities without a prospectus regulated. For the protection of small investors is recognised in such cases is usually a minimum investment of 100,000 euros.
Liechtenstein advertises with a streamlined bureaucracy, which allows for a faster approval process. For this reason, numerous Swiss crypto companies even in the "Crypto Valley" of the Canton of Zug problems to find a Bank does not apply to Liechtenstein; also Newfoundland joins the ranks of those FinTech Start-up that want to take advantage of the liberal banking regulations of the Principality for themselves.
Prime Minister Hasler welcomed this decision:
I am glad that has chosen Newfoundland for Liechtenstein. This shows that Liechtenstein is perceived with his open attitude towards new technologies as an attractive location for innovative business models,
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For Newfoundland means the ETO grant, that the company is Trying after several failed for the first time his Vision of an inclusive Fundraising platform can realize:
now a holds Newfoundland on its promise to democratize access to Finance for entrepreneurs in the world and allow everyone access to the most innovative investment opportunities, with a simple, compliant, and reliable method. safe and secure environment. It is a great day – not only for Newfoundland, but also for the economic and financial sector as a whole,
according to the press release further.