Indiegogo Facilitates Issuance of Securities Tokens

Indiegogo, a popular crowdfunding website, is allowing an Aspen-based luxury ski resort to issue and distribute securities tokens via its platform. The hotel is seeking to raise $18 million USD through the offering – which Indiegogo has claimed is fully compliant with all pertinent regulations.

Also Read: $1.1 Million Landmark Crypto Fraud Case Establishes CFTC Jurisdiction

Co-founder and chief business officer of Indiegogo, Slava Rubin, stated: “We have been working on our blockchain offering for a while now. It really goes back to our original vision where we wanted to democratize access to capital and bring investment all kinds of people around America and the world.”

CNBC reports that the company indicated it is “working with crypto brokerage start-up Templum to offer the securities tokens, called ‘Aspen Coins’, to investors. With the first offering of its kind on the platform, investors will be able to indirectly own an equity stake in the REIT Aspen Digital, which owns the St Regis resort.”

Investors will be able to participate in the offering using USD, BTC, or ETH, and the offering will only be available to accredited investors, as per regulations set out by the United States Securities and Exchange Commission.

Regarding the refunds, the company said that “investment[s] weren’t distributed to [FCFL]. This was done to ensure that Microventures navigated through the regulatory climate prior to finalizing the offering. While we believe the initial path taken was compliant, we have decided the best way to ensure compliance is to unwind the investment opportunity and return investor capital.”

What is your response to Indiegogo’s latest foray into the cryptocurrency industry? Share your thoughts in the comments section below!

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source: https://news.bitcoin.com/indiegogo-facilitates-issuance-securities-tokens/