TokenMarket has received approval from the Financial Conduct Authority (FCA) to run its Security Token Offering in the regulatory sandbox.
The global investment platform will announce a launch date for its Security Token Offering in the coming weeks and have invited global investors to invest in the company’s tokenised equity shares.
TokenMarket has helped to raise £240m for 30 start-ups thus far, including utility token offerings such as Storj and Crypto.com.
Ryan Hanley, Managing Director at TokenMarket, said: “We are delighted to announce the FCA’s approval for our Security Token Offering, with the launch expected imminently.
“We look forward to exiting the sandbox, completing our fund raise and tokenised equity issuance, and then cracking on with launching Security Token Offerings for other ambitious businesses.
“Access to finance is still a big issue for SMEs. It remains difficult and expensive, and this is holding back economic growth, and job and wealth creation.
pureLiFi completes $18m Series B
“We hope our own Security Token Offering can demonstrate that you can use blockchain technology to transform the way capital is raised.”
Once TokenMarket has completed its Security Token Offering and exited the sandbox, the company will be able to organise these offerings for UK and international companies looking to source growth finance by using their collection of 170,000 investors.
TokenMarket has a pipeline of London-based start ups who plan to raise capital using this offering.