The California-based fintech holding firm Vemanti Group announced plans to hold their own STO. They have called on the token issuance platform Securitize to help them streamline the process in a special collaboration between the two.
Securitize has slowly but surely become one of the leading security token issuing platforms in the crypto world. Boasting major investments from Ripple and Coinbase, the platform is aiming to tackle the securities industry head-on. One of their focuses in this early stage is still the real estate industry.
According to a press release made by Vemanti Group, CEO Tan Tran explained that the company has decided to hold an STO. The news was posted on the Nasdaq site this week. According to him, an STO provides the firm with the most “cost secure, effective, and inclusive method” to raise capital globally.
In the statement, he praised Securitize and the Digital Securities Law Group who will also be involved in the offering.
The eLoan Platform
Vermanti is looking to raise capital to expand its eLoan platform which is a peer-to-peer lending platform. They are focused on short-term loans primarily. Using advanced AI-algorithms and proprietary credit systems, they aim to facilitate easier credit for small businesses.
eLoan is originally based in Vietnam but is working closely with Vermanti to make their vision a reality. The partnership makes sense given that Vietnam is one of the fastest-growing economies in the world currently.
There is still limited information on Vermanti’s future STO but details will be unveiled in the coming months. All we know so far is that it will be held on the Securitize platform which marks yet another issuer on what is quickly becoming the flagship security token issuing platform.
What do you think about the Securitize platform? Any thoughts on this upcoming STO? Let us know your thoughts in the comments.
Image courtesy of Vemanti Group.