TokenMarket, which recently received its approval from the UK Financial Conduct Authority, has just finished its STO to great success.
For the first time, TokenMarket held an STO to purchase equity in the security token marketplace. Previously approved by the UK Financial Conduct Authority (FCA), its token was available for sale. Currently, TokenMarket is part of the FCA sandbox and will be leveraging its regulatory clearance for other STOs on its platform.
According to Ransu Salovaara, TokenMarket’s CEO:
“At TokenMarket, our main objective has always been simple; we want to create a fairer investment landscape for investors whilst bringing them the most exciting technology startups on the market. By demonstrating how blockchain can deliver this with the FCA we will open the floodgates for many more amazing STO projects.”
The TokenMarket STO sold out within 48 hours and reached 136% of its target, thus surpassing its fundraising goal.
TokenMarket has been trying to position itself as one of the leading security token platforms. Recently, the platform announced it would be working with Loopring to create a decentralized security token exchange. The aim is to boost liquidity in a still immature market.
The TokenMarket STO is still currently open and will close on the 22nd of July 2019.
Do you believe TokenMarket could become a leading platform for security tokens? Let us know your thoughts below.
Image courtesy of PR Newswire.