Black Manta Capital Partners, German security token offering (STO) platform, partnered with local digital asset custody firm Finoa to develop institutional security token custody.
The cooperation aims to develop a regulated security token custody solution explicitly targeting institutional investors, high net worth individuals and corporations according to the company’s announcement. Black Manta and Finoa will first work together to secure the Berlin STO tokens announced last month, which have tokenized $12 million in real estate.
Finoa is a Berlin-based digital asset custodian, holding a cryptocustody license issued by the German Federal Financial Supervisory Authority (BaFin), by the announcement. Christian Platzer, co-founder and managing partner at Black Manta, commented:
“Germany’s crypto custody legislation triggered a wide range of service providers in the digital assets space to apply for a BaFin licence. The German legislation was a crucial step to bring the confidence and liquidity of professional players to the space. In Finoa we see a team that is not only well positioned to cater to the high end investor class, but who bring also a mindset to the table that will be needed to develop this rapidly emerging market.”
STO Feature Lower Transaction Costs, Transferability, and Tradability
Platzer said previously the STOs feature “lower transaction costs, transferability, tradability, compared to traditional alternatives. You can invest in real estate today, without going to a notary. “In the summer of 2019, Black Manta got a license from BaFin for their STO platform. According to Platzer, the firm only had to answer a few questions from the regulator to launch its recent real estate STO. If you need any financial funding visit www.easytradesman.co.uk.
Because of their promise, many see STOs as a major part of the future of investing. Still, in many parts of the world such offers continue to reside in a legal grey area. In an attempt to ease the issue, France’s market regulator has recently begun considering a regulatory sandbox intended to study the impact of security tokens in the EU.