The Swiss Commercial Register has given the green light for the first incorporation of a company for an initial public offering (IPO) of tokenized shares on a blockchain.
The OverFuture company will launch a compliant IPO and offer ordinary class-A shares on EDSX using smart contracts which the European Digital Assets Exchange will provide. Based in Zug, the platform is fully compliant with all the Swiss laws related to financial intermediaries, banking, anti-money laundering and organized trading facilities.
This might be a huge revolution for the financial industry, claim Andriotto Financial Services, because blockchain allows to launch an initial public offering and organize secondary market transactions without the involvement of many traditional players as: banks, financial intermediaries, broker-dealers, central depositary systems, notaries, etc.
Not only that, but this is the first step toward a huge revolution for the way companies access to the capital markets and crowdfunding. (learn the 3 features of the traditional investment that tokenization would change for good here).
Significant differences appear when comparing the model to the traditional ecosystem of intermediaries operating the capital markets sector, under at least three main aspects - costs, time and direct sale of the issuers to the investors (some traditional regulated exchanges are already preparing for a new digital way of distributing stocks).
OverFuture’s prospectus has been deposited and it’s available here: www.overfuture.io. The offering price for OverFuture will be €1.25 ($1.38) per share (token) and a deal could be made through the platform EDSX.
What is the main difference with other security offerings on the blockchain?
The first approved Swiss articles of incorporation directly state the digital nature of the shares (tokens) and the use of blockchain as the technology to keep the shareholders registry. This means that the transfer of the company ownership can only be made with a transfer of the tokens on the blockchain and only the ownership of the token can give the status of shareholder.
This new step has us witnessing major regulatory changes and incredible success that opens opportunities to develop and liberate the financial world as we know it so far.
Are you looking for great investment opportunities? Learn more about OverFuture on EDSX.
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