Security token offerings (STOs) are all the rage at the moment and they are starting to look more and more like IPOs with every passing day. WISeCoin has taken things a step further, conducting a pre-STO funding round that saw it net a cool $7 million. Following the huge success of the pre-STO, WISeCoin is confident that there is a demand for its product and is planning on launching the main STO even before the end of Q2 2019 – meaning in the next few weeks.
Safeguarding the Blockchain Ecosystem
WISeCoin’s main goal in life is to safeguard the blockchain ecosystem and internet of things (IoT) from cyber-attacks. Using secure cryptography and state-of-the-art technology, WISeCoin is hoping to be successful. However, in order to reach its goals and dreams, it needs to find a lot of funding. In a statement, WISeCoin said that it needs to raise CHF 17,587,527 to develop its platform successfully – with that number subject to fluctuation.
Don’t Forget the WISePhone
Back in November, WISeCoin announced its Sirin Labs killing mobile phone, WISePhone. The blockchain-based phone will use a fork of the Android operating system to fully encrypt all data and communications stored on the phone or sent from it. It will also host an array of apps developed by WISeCoin – such as WISeTalk, WISeID, and WISeKey – as well as access to traditional apps on the Google Play Store. There are two versions of the phone available – Genesis and Block Edition – with the Block Edition packing more in terms of spec.
STOs on the Rise
STOs are becoming popular thanks to the demand from crypto investors for new projects and the security of regulated funding rounds. All STOs need to comply with the same rules and regulations an IPO would – in terms of prospectus documents – but without the accounts that go with it. Germany’s first STO is preparing for launch after the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) gave its prospectus the green light. With this easy to follow and secure regulatory framework, STOs can easily overtake IPOs to become the go-to funding source.
WISeCoin looks like it has the backing and support to sell out its STO, which of course is fully regulated by the Swiss authorities. Currently, it’s still not incredibly clear why WISeCoin is better than anything else out there on the market, but it will likely sell out and prove to be a popular project after its launch nonetheless.