TokenFunder received regulatory approvals needed to complete the ITO of its FNDR Tokens as securities. The ITO starts Nov 1, 2017.
Read the full press release here:
October 23, 2017 – Toronto, Ontario – Token Funder Inc. (“TokenFunder”) is pleased to announce that, on October 17, 2017, it received regulatory approval in the form of exemptive relief from certain Canadian securities law requirements required to complete an initial token offering (the “ITO”) of its FNDR Tokens (as securities for purposes of Canadian securities laws). TokenFunder will launch its ITO on November 1, 2017.
TokenFunder CEO, Alan Wunsche said “TokenFunder has been working with the Ontario Securities Commission’s LaunchPad for the past year to define an innovative funding model for businesses. Our offering will give investors the comfort of knowing that they are purchasing a security that can stand up to the scrutiny of regulation. Many investors want to participate in the new world of digital finance and expect companies to provide safeguards. Canada is respected globally for having a trustworthy financial services industry thanks to regulatory governance.”
Regulatory approval is important as blockchain technology has enabled global venture funding of over US$2.7 billion. Various Initial Coin Offerings(“ICOs”) and Initial Token Offerings (“ITOs”) have been completed without compliance with applicable laws, including Know-Your-Client (“KYC”), securities laws, anti-money laundering (“AML”) laws and sanctions legislation. Their digital tokens have no investor rights and no formal accountability to their backers.
TokenFunder Co-Founder Laura Pratt said “A unique feature of our FNDR token is that it lets investors share in the future success of the platform. TokenFunder has innovative KYC and AML compliance safeguards, which investors don’t receive with unregulated ICOs. After the completion of our ITO, our vision is to enable other companies to launch ITO’s using our platform. It is a myth that regulation is in the way… it’s the right way.”
“Having a regulated approach to initial coin and token offerings will provide the needed governance and accountability to this new world of digital finance, and will contribute to healthy capital markets.” Don Tapscott, Co-founder, Blockchain Research Institute and co-author of Blockchain Revolution.
TokenFunder is a token issuance and governance platform powered by innovative blockchain technologies that enables investors and businesses to enter the new world of digital finance. TokenFunder offers token launch advisory services and is designed to operate within applicable securities laws and de-risk offerings and purchases of coins for both issuers and purchasers by providing, among other things, a regulatory approved platform and related support. FNDR Token Registration Registration to invest in FNDR Tokens begins November 1, 2017
For more information, contact: Alan Wunsche, CEO & Chief Token Officer. Alan@TokenFunder.com