Blockport Social Crypto Trading Platform Aims to Raise 15 Million EUR with Its BPS Security Token (STO)

Blockport is issuing a security token offering (STO) to raise capital for company expansion and further development of their platform. The STO is set to start next month, March 2019 and is set to raise 15 million EUR for the blockchain company.

The company will issue the participants in the STO a certificate or depositary receipt of the Blockport Securities (BPS). This certificate represents a share of the company and offers the holder ownership of the company. The benefits extend to dividends that will be paid out to investors once announced by the board of directors of Blockport.

While the social crypto trading firm shares offer muli benefits to the investors, it will not include voting rights as the management and corporate strategy is left to the intermediary issuing BPS. Speaking on the announcement, the founder and chief strategist at Blockport, Kai Bennink said the STO will allow investors to gain profits from the company’s growth in both a transparent and standardized method. He further commented,

“As a company operating in the blockchain industry, we are very excited to be one of the first exchanges in Europe to be launching a security token offering.”

The Blockport Security Token Offering

The STO is set to be offered on the Tokeny security issuance platform and will begin in March with the company expecting a total of 5 million EUR during the sale. The STO will first be offered to accredited U.S customers and further extended to other investors in Europe and other crypto friendly jurisdictions.

Once the first round is concluded successfully, Blockport will start planning for the second rise in June. The second round is expected to complete the 15 million EUR target for the company. One further round will be raised by Blockport in effect to their total growth during the year. The total amount expected to be raised by the end of the STO capital raises is 30 million EUR.

The STO is playing within the laws as the will offer accredited U.S investors under Rule 506 (©) under Regulation D under the Securities Act of 1933 and Regulation S under the Securities Act to participants in Europe and other countries.

The STO is set to increase the investors’ interest in Blockport as well as offering them a chance to indirectly own part of the company. Blockport on its part will be able to pursue its goals to completion while expanding its operations in the U.S and Europe. Notwithstanding, the company aims at obtaining the licensing to open up fiat-crypto banking services.

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