https://thetokenist.io/mash-group-set-to-launch-europes-first-sto/
Mash Group Set To Launch Europe’s First STO
Mash Group has just announced they are holding their own security token offering (STO) which will be a part of their equity round of €50m . Mash Group is a Finnish company which specializes in “pay later” solutions and consumer lending.
Mash Group will be hosting their own security token offering according to a press statement recently released by the lending company. Mash will be partnering with DLA Piper, Trust and Tokeny to make it easier for professional investors to participate. The offering for the current equity round will be accepting both cryptocurrency and fiat. Deloitte has been chosen to verify participants and provide basic AML services.
Part of Mash’s 50M euro equity round, the whitelist for the STO opens this month and closes in December. Like having equity in a company, holding Mash’s tokenized security would bring to the holder voting rights and dividend rights of the company, just as one would have holding a stock.
“Europe’s First STO”
Mash claims that their company will be the first to hold an STO in Europe. The CEO of Mash, James Hickson, has said:
“We are working closely with our partners to ensure we are fully compliant with security laws and regulations on a platform that can manage the process of issuance and management through the lifecycle of the asset.”
Mash was founded in 2007 and provides a host of lending services for both consumers and retailers. The company has offices in Finland, Sweden, Poland, Luxembourg, and Spain.
The company will have to navigate a complicated legal environment in Europe, but Hickson has said that their STO is already compliant and will go as planned. In Europe, STO laws are still being sorted out and few countries have any existing tokenized security laws on the books. The United States is in a similar legal situation, with the current legal opinion moving towards tokenized securities as the new standard for most tokens.