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Fintech

Tend token sale points to a regulated future for ICOs

The luxury-asset investment platform is to raise funds by selling tokens that mirror participation certificates under Swiss law, with full KYC and AML checks on buyers.

Marco-Abele-600

Marco Abele, founder of Tend As cryptocurrency markets collapsed in January and regulators threaten to clamp down further on initial coin offerings (ICOs), Tend – the blockchain-powered investment platform incorporated last year by Marco Abele, former chief digital officer at Credit Suisse – announced a new form of token sale.

By providing greater transparency to investors and regulators, and granting rights to token holders that mirror those enshrined in Swiss law on so-called Partizipationsschein (participation certificates), the token sale – which is set to run from February 3 to February 17 – might point the way forward for this new mechanism for financing innovative new companies.

Figures from PwC suggest that from just $236 million in 2016, the volume of funds raised through ICOs shot up to $4.6


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