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Black Manta Capital Partners which manages German security token offering (STO) platform is now into partnership with Finoa (a local digital asset custody company). This is towards the development of an institutional security token custody.
The partnership was announced on May 4 and it was noted that it is towards the development of a regulated security token custody solution clearly focused on institutional investors, high net worth persons and corporations.
Last month, an announcement stated the tokenization of $12 million worth of real estate by the Berlin STO tokens; hence, the first task through the collaboration is to secure the tokens.
Finoa is a digital asset custodian based in Berlin and it possesses a cryptocurrency custody license issued by the German Federal Financial Supervisory Authority (BaFin). In the words of Christian Platzer of Black Manta, the cryptocurrency custody legislation in Germany prompted several service providers within the cryptocurrency domain to put forward an application for a BaFin license.
According to Platzer, the legislation was critical in bringing experts’ confidence and liquidity to the domain, and Finoa has a team skilled at catering to high end investor class and providing the necessary things for the development of this swiftly emanating market.
Security tokens are rising in the digital currency space. Before this new collaboration between Black Manta and Finoa, Platzer said STOs are tradable, transferable, and feature lower transaction costs, relative to traditional options. It is possible to invest in real estate nowadays, without the need to visit a notary, said Platzer.
Black Manta’s STO platform was licensed by BaFin last year. Platzer noted that the company answered a few questions asked by the regulator before the launch of its recent real estate STO.
STOs seem promising and this is why numerous people consider it a key aspect of the future of investing. However, such provisions remain in legal grey areas worldwide.