Fintech startup Neufund has begun launching public offerings on its tokenized equity platform after receiving clearance from a financial regulator in Liechtenstein.
On Monday, the startup announced retail-grade public offerings of tokenized equity. With minimum ticket sizes as low as 10 euro, co-founder and CEO of Neufund Zoe Adamovicz said Neufund remarked that the firm “delivers on its promise to democratize access to funding for entrepreneurs globally” following clearing from the Financial Monetary Authority of Lichtenstein.
“It’s a big day – not just for Neufund, but business and finance,” Adamovicz said in a statement.
U.S. based investors must be accredited to partake. Unlike other tokenized financial products such as initial coin offerings, Neufund’s product is legally binding equity in a firm.
The first retail public offering being launched is for Greyp, an electric mobility platform. Neufund said $16 million in capital has been deployed on the platform to date.
Nefund’s protocol is based on the ethereum blockchain with custom smart contracts built in-house on the ERC-20 token standard. One of the most active participants on the ethereum network, Nefund has been developing the codebase since 2016. Neufund is based in Berlin.
Gumball machine image via Shutterstock