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According to a new report by Fintelum, security token offerings in Europe have a 17% success rate. STOs issued in Switzerland have had the most success.
A new report regarding European STOs is a mix of good and bad news. The document surveyed that around 17% of STOs in Europe have been successes; 34% are still ongoing; 17% have been canceled, and 9% have failed.
In total, around €25 million has been raised which is still a tiny amount relative to the ICO industry. Switzerland leads the continent in STOs, being the location of choice for 31% of them. The United Kingdom comes second with 23%, with Germany (19%), and Lichtenstein (15%) close behind.
One of the most popular STOs in Europe has been Bitbond, which completed its token sale after being approved in Germany earlier this year. Mast Group kicked off the upsurge of STOs in Europe in late 2018.
Overall, the report indicates that the STO industry is still in its infancy in Europe. These numbers, though, should indicate growing momentum for the space moving forward. As more STOs become popular and their security tokens traded, we could see an upsurge in 2020. By then, platforms will further modernize their services as regulations become more clear.
Can we expect the STO industry to grow in 2020? Let us know your thoughts below in the comments.
Image courtesy of Push Pin Travel Maps.