Section dedicated to the main digital finance news. These July 2020 finance reports concern the the world of STOs, institutional progress and the decentralised finance revolution.
July 23, 2020 – USA: OCC allows banks to offer crypto-related services
U.S. Office of the Comptroller of the Currency, or OCC, has issued a letter explaining that banks may offer any type of cryptocurrency related service, such as the custody of associated keys, provided they comply with current laws.
The news of the OCC, which is an independent office of the Treasury Department of the United States, already has governmental significance and, contrary to what is expected from the decentralized world of cryptocurrency, will give banks the opportunity to continue to perform their financial intermediation function.
A turning point for the traditional banking system that finally recognizes the cryptocurrency and tokens as financial instruments increasingly used, but that remains in strong contradiction on the concept of peer-to-peer and disintermediation of which crypto are pioneers.
July 15, 2020 – Big Four Firms will enter in DeFi world in 10 years
According to the latest dGen report, by 2030 the world of decentralized finance or DeFi will see a series of long-term bullish developments thanks to the entry of the Big Four into the ecosystem.
Researchers claim that DeFi is still in its early stages but that it already is one of the hottest topics in the blockchain industry today. That’s exactly why, giants like KPMG, EY, Deloitte and PwC will become an important part of DeFi in the next ten years.
July 13, 2020 – Vogemann Raises Investment Capital with Its First STO
The Vogemann shipping company, based in Hamburg, Germany, launched its first security token offering (STO) to raise $50 million in investment capital.
Vogemann’s goal aims to create a greener transport model. They want to reduce carbon dioxide emissions from ships and make the sector more environmentally friendly.
Their forward-thinking plan aligns perfectly with using an STO for fundraising. Investors call the issued digital asset the “Green Ship Token.”
Reports say Vogemann mints Green Ship tokens on Ethereum. They function as tokenized profit-sharing rights offering fixed annual returns. The capital funds new or modern bulk carrier ships for their operations. This supports the overall Vogemann’s vision of a greener fleet.
July 24, 2020 – SBI Holding has moved into the world of security tokens
The Japanese financial giant SBI Holding has moved into the world of security tokens, acquiring a 10% stake in Nomura Boostry’s STO platform.
A not entirely occasional choice, if one considers the constant growth of the security token exchanges in the secondary markets. A market that registered a volume of more than 2 million dollars for the first time in June.
July 14, 2020 – Rotterdam School of Management: “STOs are better than ICOs”
Researchers at the School of Management in Rotterdam also argue that STOs are better for financing start-ups than ICOs.
Specifically, they are Thomas Lambert, Daniel Liebau and Peter Roosenboom who describe the situation as follows:
STOs offer tokens to investors in startups. These tokens usually provide investors cash flow rights and sometimes voting rights too. A STO specifically aims to fund startups through financing. In contrast, an ICO funds an organization in general but does not include financing.
Researchers note STOs can be issued in two ways. Basically, companies can offer equity tokens early in their existence to raise initial funding. Or they can later issue fund tokens to attract additional investment once established. The researchers also found that corporate governance is another success factor.
Based in Zug, the platform is fully compliant with all Swiss laws related to financial intermediaries, banking, anti-money laundering, and organized trading facilities. Among its core values, there are innovative solutions through blockchain technology, which ensures security and liquidity.
EDSX is the first platform in Europe with primary and secondary markets for both institutional and retails. EDSX is a pioneering platform that employs the world’s leading technology to globally list security tokens in both primary and secondary markets, listing digital securities of real financial instruments to the public with a decentralized peer-to-peer exchange. Our goal is to fully engage every aspect of the financial revolution.
Do you have a question for us?
Send your query here: