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Liechtenstein blockchain startup launches first European security token

The Liechtenstein startup edeXa is currently conducting a Security Token Offering (STO), which according to an interview by CEO Daniel Kohler with the ARD on January 15, is the first of its kind in Europe.

In the crypto IPO of the startup, which was only founded last October, investors can digitally buy shares in edeXa. Of stocks previously issued for 150,000 Swiss francs, two thirds are associated with 100 million tokens.

The remainder of the 50,000 Swiss francs stake in the company is held by Liechtenstein-based io-market AG, whose founder and co-owner Daniel Kohler co-initiated the project. This means that the majority of edeXa shares will come into circulation via the STO. Ten of the edeXa tokens represent a non-voting share.

As this is a security token, buyers can benefit from dividend payments from future startup profits of the startup. All details about the current STO can be viewed in a white paper.

As reported by the ARD on their website, even before edeXa was founded, around three million tokens have been sold to shareholders of io-market AG as well as acquaintances of the company within a few days. In the public phase, “20 million vouchers will initially be issued to investors from the European Union,” the report continues.

In the first European STO, edeXa was able to win the Liechtensteiner Landesbank for itself, whereby also the financial supervision as a regulator played a decisive role.

So far there is no secondary market for the tokens of edeXa, which is why the company manages them in its own wallet. According to CEO Daniel Kohler, the token will later be joined by the largest Swiss and British stock exchanges as well as a Gibraltar Stock Exchange and the well-known US stock exchange Coinbase.

The edeXa token is a test case for the not yet passed Blockchain law in Liechtenstein, as the support of the Landesbank and the financial market supervision of the country clarify. Unlike the establishment of Bitcoin ATMs in Liechtenstein, legal uncertainties in the STO seem to have played no role.

Published inStartupsTechnology

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