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The London Stock Exchange Conducts World’s First Security Token Offering (STO) on the Blockchain

The London Stock Exchange has granted permission to issue its first Security Token Offering (STO) or Equity-Token Offering (ETO). 20|30 is the limited private firm that has been accepted into the Financial Conduct Authority (FCA) Sandox 4 and will conduct the STO.

Beginning of An Era of Blockchain Tokens

The tokens will be recorded on the blockchain and would be administered decentrally. The test phase of the offering has already been conducted with the parent firm, 20|30 which will provide the platform for tokenizing all securities. Blockchain tokens will increase the efficiency and efficacy of exchanges and trades conducted in the LSE. It will also increase the transparency of trades and increase investor confidence.

The firm has already acquired an initial SEED funding amount of 1 million Euros and has begun the test phase of issuing tokenized equities. The tokens are issued on Ethereum based smart contracts. The new efficient system of offering securities will reduce trading…

Read Full Story : Coingape

2019-04-16 12:46:19

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