A Variety of ICO, IEO and STO Reports

29 June 2019

Each week we share the latest news in blockchain and finance. This is newsletter #42 and covers a variety of ICO, IEO and STO reports (from STOCheck, PwC and Blockdata), plus the latest on the FATF rules, and more.

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Earlier in June, we attended a very interesting event (scroll down for English) on the concept of a Central Bank-issued Digital Currency (CBDC). Speakers included economists, payment experts, and professionals from the Dutch Central Bank and the Rabobank. Here are two paraphrased takeaways:

  • Many people seem to expect that a CBDC can be created in a short time-frame. It seems like low-hanging fruit. But considering the complexities and consequences of a CBDC, this is not the case. There are many questions to answer and such a new digital currency will fundamentally change our monetary system.
  • For instance, if we assume that a CBDC is of higher quality than current methods of payment (e.g. that CBDC-payments can settle faster), then this may actually increase systemic risk. Why? Because people would prefer a superior method of payment, possibly leading to an increased risk of bank runs, and bank runs ‘running’ faster. 

QUOTE

We now have banks in one corner and a tech giant in the other. Both corners are fighting for global payments, both corners have explicitly said that the only way anyone can compete going forwards is to use open systems, and both have explicitly said that they expect blockchain, or distributed ledger technology (DLT), to have a role to play.

— Finder’s cryptocurrency editor Andrew Munro on SWIFT’s blockchain plans.

 

NEWS

🚓 As expected, the Financial Action Task Force (FATF) released its recommendations on regulating cryptocurrencies (full doc here). Crypto businesses should now obtain and hold data of senders and receivers of crypto, and countries will have 12 months to adopt these guidelines

⚗️ eToro’s digital asset platform eToroX has run a trial to tokenize assets on Facebook’s Libra. Considering the state of Libra, this doesn’t say much yet, but it’s interesting to see the results on GitHub.

💱 BlockState is to mirror 6 ERC-20 tokens on private ledger Corda, to allow for them to be traded on the upcoming Swiss Digital Exchange (SDX) (part of the Swiss Stock Exchange).

 

LONGER READS

🔍 Tokenized security listing platform STOCheck has set up a security token market (or STO) reportshowing data and trends in the STO landscape.

💱 An interesting long-read illustrating the new security tokens could play in private equity secondaries (i.e. the secondary market sale of an investor’s (limited partner) interests in a PE fund).

📄 PwC and Crypto Valley released their 5th ICO/IEO/STO report,discussing e.g. how much has been raised so far ($3.3bn in the first 5 months of 2019) and the difference between the 3 fundraising methods.

🏦 A banker’s point of view on asset tokenization and the (non-)differences between security tokens and investment funds.

⚖️ An (extensive) overview of the current state of Stablecoinsby Blockdata.

 

NEW DEALS

🗝️ French tokenization provider Equisafe is tokenizing shares representing ownership of a €6.5m property in Parisusing Ethereum. 

🏘️ More real estate deals. Crypto exchange Coinsbit (currently #55 on Coinmarketcap) is hosting an Initial Exchange Offering (IEO) for the Fortem Capital token, which is to be a payment token on a new real estate tokenization platform named Fortem

 

POSTSCRIPT

With so many long reads, we’ll keep this short.

See you next week! 👋

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