Black Manta, the German security token offering (STO) platform, has partnered with Finoa, the digital asset custody firm, to develop institutional security token custody.
On May 4, it has been reported in an announcement that the cooperation aims to develop a regulated security token custody solution directly aimed at institutional investors, high net worth individuals, and corporations.
However, Black Manta and Finoa will first collaborate on securing the tokens of the Berlin STO, which has tokenized $12 million worth of real estate announced last month.
German STO platform partners with crypto custodian to create institutional security token custody solution https://t.co/BeYyzJdaLq — Cointelegraph (@Cointelegraph) May 4, 2020
Christian Platzer, the Co-founder and Managing Partner of Black Manta, said:
“Germany’s crypto custody legislation triggered a wide range of service providers in the digital assets space to apply for a BaFin licence. The German legislation was a crucial step to bring the confidence and liquidity of professional players to the space. In Finoa we see a team that is not only well positioned to cater to the high end investor class, but who bring also a mindset to the table that will be needed to develop this rapidly emerging market.”
He added:
“Compared to traditional alternatives, STOs feature “lower transaction costs, transferability, tradability. You can invest in real estate today, without going to a notary.”
As per the report, Black Manta obtained a license for its STO platform from BaFin in the summer of 2019.
According to Platzer, to launch its recent real estate STO the firm only had to answer a few questions from the regulator.
Thus, STOs are seen as a major part of the future of investing by many, as still, such offerings continue to reside in a legal grey area in much of the world.
Source: Cointelegraph | Image: Coindesk