犇睿资本：欧洲首例数字证券发行案例Tokeny简析
浪花财经作者：Erin Hobey
翻译：Lan
犇睿研究院原创，转载请注明出处
'Tis the Halloween season…
Luxembourg-based Tokeny and Mash have partnered to launch €50 million STO. Mash Group PLC, a FinTech50 business specializing in consumer lending and pay later solutions, has partnered with Tokeny to support its Security Token Offering as part of its €50M equity round.
万圣节期间，卢森堡金融科技公司Tokeny和Mash已经合作发行价值5000万欧元的STO，Mash作为一家专门从事消费借贷解决方案的金融科技公司，为Tokeny的5000万欧元ST发行提供了技术支持。
“As we looked at delivering Europe’s first STO, it was critical we worked with the right team. One of the great things about Tokeny is the talent they bring to the table, it’s not just about blockchain, it’s about fundamentally understanding the implications for digital securities,” opined Mash CEO James Hickson. “We’ve been hugely impressed, not only with the platform but the partnership and approach that Tokeny have brought to the table.”
“当我们考虑进行欧洲第一个STO时，我明白与一个优秀的团队的合作至关重要。Tokeny是一位很棒的伙伴，他们带来的不仅仅是区块链，还有从根本上的数字证券意义，”Mash首席执行官詹姆斯·希克森（James Hickson）说道。“我们不仅对Tokeny的平台印象深刻，而且Tokeny对待伙伴的态度和方法也让我们感到深刻。”
Pre-registration has begun for the STO, part of Mash’s broader equity round, with the round closing in December 2018. Launched in 2007, Mash is also partnering with DLA Piper UK LLP as legal adviser and has selected Deloitte to support AML and KYC requirements.
STO的预注册已经开始，这是Mash更广泛的股权回合的一部分，已在2018年12月结束。Mash于2007年成立， 其法律顾问是DLA Piper UK LLP，选择德勤以支持AML（反洗钱）和KYC（了解客户）。
“Mash is a visionary in identifying the issuance of security tokens on the blockchain as a new way to reach investors. This is completely in line with Tokeny’s vision to deliver an end-to-end technology platform supporting the issuance and management of security tokens on the Ethereum blockchain,” observed Tokeny CEO Luc Falempin. “We aim at shielding the issuer from the technicalities of the blockchain and making the subscription process as simple as possible for their investors.”
“Mash是一家有远见的公司，他将在区块链上发行证券代币视为一种新的寻找投资者的方式。“这完全符合Tokeny希望打造一款端到端技术平台的愿景，该平台支持在以太坊上发行和管理代币，”Tokeny首席执行官Luc Falempin评论道。
Security Tokens offer many benefits, said Mash, and are expected to make up 10% of global GDP – roughly $8 trillion by 2024. Tokenized securities represent assets – such as equity, debt/loans, or investment funds and reflect an expectation of future cash flows resulting from the activity of the issuer. Security tokens are therefore subject to financial security regulations, just like any other security.
Mash表示，证券代币有很多好处，预计到2024年将占全球GDP的10%，约8万亿美元。代币化的证券代表资产，如股权、债务/贷款或投资基金，反映发行人活动产生的未来现金流预期。因此，与任何其他证券一样，证券代币受金融安全法规的约束。
Crowdfund Insider reached out to the CEOs to share further insight on the STO process, how the funding will be used and, more broadly, on exciting shifts in the sector
金融科技媒体Crowdfund Insider与首席执行官取得了联系，他们分享了对STO流程的进一步见解，和如何使用资金，以及更广泛地分析该行业令人兴奋的变化。
"Running a security token offering is a challenge because the traditional finance industry is not ready yet,” noted Falempin regarding the STO market. “As you would expect in such a nascent market, there is a great deal of education to be doing before it comes anywhere close to reaching its potential. By launching Europe’s first STO in a well established top FinTech business, we hope this will go some way in educating new audiences."
“经营STO产品是一项挑战，因为传统的金融业还没有准备好，” Falempin在谈到STO市场时指出。 “正如你在这样一个新兴市场所期望的那样，在它发挥潜能之前，还有很多教育工作要做。 通过一个顶级金融科技业务推出欧洲首个STO，我们希望这将在某种程度上获得更多的目光。”
As for shifts in shifts in the sector, Falempin told Crowdfund Insider.
“In Europe, we’re leading the way thanks to proactive initiatives from regulators and a wish to the make the EU an innovative hub. This gives Tokeny a huge opportunity to build solid foundations and create an infrastructure of affiliates to ensure every security token is fully regulated. Partnering with key players and companies that share the same vision of leading the tokenization era is fundamental within such a new market. We are sure this is the first of many regulated STOs in Europe.”
对于行业的变化，Falempin告诉Crowdfund Insider，“在欧洲，监管机构的积极主动的态度，以及希望欧盟成为创新中心的愿景，使得我们处于领先地位。 这为Tokeny提供了一个巨大的机会，可以建立坚实的基础并创建附属公司打下基础，以确保每个证券代币都得到充分的监管。 在这样一个新市场中，与拥有领导标记化时代相同愿景的主要参与者和公司合作是至关重要的。 我们相信这是欧洲许多受监管的STO中的第一家。”
Last week, Tokeny partnered with Blocktade.com, a trading facility for Crypto Assets, Crypto Traded Indices and other blockchain related financial instruments to move the platforms’ vision of tokenized securities trading forward.
上周，Tokeny与blocktade.com合作，这是一个加密资产、加密交易指数和其他与区块链相关的金融交易工具，以推动平台的证券代币交易向前发展。
