RATE Group | Swiss Firm Poised to Launch Compliant IPO on Ethereum Blockchain
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Swiss Firm Poised to Launch Compliant IPO on Ethereum Blockchain

29 Jan Swiss Firm Poised to Launch Compliant IPO on Ethereum Blockchain

Posted at 10:18h in Ethereum News by

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Swiss regulators have given the go-ahead for what is purportedly the country’s first fully compliant initial public offering (IPO) on a blockchain.

Swiss blockchain firm Overture will launch a compliant IPO and offer ordinary class-A shares natively on the Ethereum blockchain, using smart contracts provided by Zug-based EURO DAXX (the European Digital Assets Exchange), a Jan. 29 press release reveals.

A blockchain-native approach to securities offerings

Overture and its financial advisory firm, Andriotto Financial Services, said that the new venture is set apart from other security offerings in that:

“The company has approved the first Swiss articles of incorporation that directly states the digital nature of the shares (tokens) and the use of the blockchain as the technology to keep the shareholders registry […] transfer of the company ownership can be achieved only with a transfer of the tokens on the blockchain and only the ownership of the token can give the status of…

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