A German partner company of the financial service provider Black Manta Capital, BMCP GmbH, has been licensed by the German financial regulator BaFin. The company may, therefore, operate as a Financial Services Institute in Germany. With the license, the company wants to offer a “Security Token Offerings (STO) platform based on blockchain technology “.
Security tokens represent different types of assets. They can in principle be compared to shares, but these tokens can represent all types of assets such as real estate, startups, and funds. In the official announcement of the news, Black Manta explains:
With so-called Security Tokenization, BMCP GmbH converts rights to assets into a digital token and creates intelligent investment contracts on a blockchain. This innovation in financial products creates completely new access to capital for small and medium-sized companies, real estate projects, startups, commodity markets or funds, as well as new access to investment for new investors.
The MiFID II license allows BMCP GmbH to offer financial services based on blockchain technology. This makes it one of the first companies in Europe to receive such a permit, says Black Manta. In the announcement, the company further explains:
The issue of such tokens using blockchain technology is a new business model that is fully covered by the provisions of the MiFID II directive on financial instruments (2014/65 / EU).
The first STO will take place at the start of the fourth quarter of 2019. In addition to Germany, Black Manta also plans to set up similar platforms in Austria and Singapore.