Liechtenstein gives thumbs up to tokenized public offerings

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Berlin based fintech startup Neufund has begun launching public offerings on its tokenized equity platform after receiving clearance from a financial regulator in Liechtenstein, Coindesk has reported.

The startup announced on Monday that it is launching retail-grade public offerings of tokenized equity, with minimum ticket values as low as 10 euro.

Zoe Adamovicz, co-founder and CEO of Neufund, explained that the firm “delivers on its promise to democratize access to funding for entrepreneurs globally” following clearing from the Financial Monetary Authority of Lichtenstein.

“It’s a big day — not just for Neufund, but business and finance,” Adamovicz said in a statement.

Unlike other tokenized financial products such as initial coin offerings, Neufund’s product is legally binding equity in a firm. However, US-based investors must be accredited to participate.

The first retail public offering being launched is for Greyp, an electric mobility platform. Neufund also said $16 million in capital has been deployed on the platform to date.

Nefund’s protocol is based on the ethereum blockchain with custom smart contracts built in-house on the ERC-20 token standard. It is one of the most active participants on the ethereum network. Furthermore, Neufund says that it has been developing the necessary codebase for it platform since 2016.

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