Top 4 Security Tokens News – Weekly Digest (8 – 14 Apr)

Harvard University Makes $5 – $10 Million Crypto Investment into Blockstack Security Token Sale

Blockstack is one of the latest companies to apply to the US Securities and Exchange Commission (SEC) for a token sale that they are hoping will bring in $50 million for their company.

The Ivy League research university is mentioned in the application for a remarkably interesting reason – using cryptocurrency. According to a post on Twitter from Morgan Creek Digital’s Anthony Pompliano, Harvard’s endowment chose to invest at least $5 million with the token sale involving Blockstack. With this in mind, Pompliano commented that “the virus is spreading.” Source

Swarm Brings Security Tokens To TRON Blockchain

Swarm is an asset tokenization platform. Through the use of blockchain technology, Swarm offers the fee-free tokenization of real-world assets— even assets that pay dividends.

Now, Swarm will allow asset providers with the proper licensing to issue security tokens on the TRON blockchain. Swarm’s aim is to simplify the process of tokenization. They selected TRON to allow customers to complete transactions with faster speeds and fewer fees. Source

Mauritius Issues Regulatory Guidance on Security Token Offerings

In guidance published Monday, the FSC said that security tokens are classed as securities as defined in the country’s Securities Act 2005, but in digital form.

Issuers raising funds through STOs are therefore required to get prior approval from the FSC, according to the guidance. However, if the issue is targeting “sophisticated” or “expert” investors and funds, or professional investment schemes, prior approval is not required. Source

Provenance Blockchain Successfully Raises $20 Million In Reg D Security Token Offering (STO)

On April 10th 2019, Provenance.io Blockchain announced a successful Security Token Offering (STO) which raised $20 million. The funds will go towards the further development of Provenance.io and its administrator, Provenance Blockchain Inc., which are now independent entities.

Now, after a successful Security Token Offering, provenance says the $20 million raised will support the further expansion of the Provenance.io ecosystem. The Reg D private placement saw participation from both blockchain and traditional technology investors. Source