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Italian Car Maker Mazzanti Automobili Launches Its STO On STOKR

Mazzanti Automobili, the Italian luxury car manufacturer, has launched its security token offering (STO) on regulated digital marketplace STOKR.

It has been reported that Mazzanti, as part of the offering, aims to raise 999,999 euros ($1.2 million) on STOKR to develop a special edition of its hypercar model Evantra Millecavalli R.

However, Mazzanti’s STO will allow investors to purchase MZZ tokens, priced at 1 euro each. The token is issued by Mazzanti through Blockstream AMP, a platform for the tokenization of securities built on the Liquid sidechain of Bitcoin, which has been directly integrated with STOKR.

The report said that MZZ investors will be able to receive a 50% revenue share in the sale of the Evantra special edition. The offering is available for select European countries, with a minimum investment of 50 euros.

Italian luxury carmaker Mazzanti Automobili will also accept Bitcoin for automobile purchases. — Cointelegraph (@Cointelegraph) February 25, 2021

Luca Mazzanti, the founder of Mazzanti, said that the company has been considering running an STO for a while. The company initially announced its upcoming STO plans earlier in February.

In conjunction with the STO, Mazzanti also announced that the company will allow its customers to purchase all editions of the Evantra model with Bitcoin (BTC) starting February 25.

Also, the move echoes Tesla’s recent move toward accepting Bitcoin payments for its electric vehicles.

STOKR has been listing various STOs in compliance with capital market laws of the European Union.

Thus, last year, Germany’s Federal Financial Supervisory Authority approved ParkinGO’s offering as the first cross-border STO on STOKR.

Source: Cointelegraph



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