STO Platform Provider Token IQ, DealBox to Help 6 Issuers Raise $440M
Token IQ, in collaboration with DealBox, will assist six token issuers to raise funds according to securities laws.
Token IQ, a security token platform operator that helps entities tokenize their assets while maintaining compliance, announced on Thursday that it was collaborating with DealBox to help several token issuers raise a total of $440 million. DealBox is a blockchain business accelerator and fundraising platform operator. The two companies will assist Mint Air, Scratch Tech, Measured Risk, Abundance, Gorbyte, and Mission Space Limited to raise funds by issuing tokens.
Both issuers and investors will make use of Token IQ’s token issuance platform, which is backed by a patent-pending technology. On top of that, DealBox will contribute with its Know Your Customer (KYC) and Anti-Money Laundering (AML) verification solution for checking the identity of potential investors and making sure that tokens are distributed to eligible parties only. The integration with Token IQ will allow DealBox to adopt token recovery mechanisms for issuers and investors, ensuring full compliance with securities regulations.
Mission Space Limited CEO Angus McGylnn commented:
“Our company needs best-in-class technologies for every phase of our launch which is why we selected Token IQ for our STO.”
Giuseppe Gori, CEO of another token issuer – Gorbyte, stated:
“With our focus on creating the safest, most scalable and cost-effective distributed ledger, we have chosen Token IQ as the platform that best aligns with our high technical and financial standards.”
Token IQ is a blockchain startup founded last year. It leverages the distributed ledger technology to develop a platform for the tokenization of real-world assets. Thus, it allows issuers to digitize ownership rights and convert them into smart tokens that have compliance built-in.
Token IQ co-founder and president Aleksander Dyo, commented:
“We could not be happier to have such outstanding and innovative companies as part of our first batch of customers to utilize our Founders Discount Program. Our capabilities, tools and processes are second-to-none, and we are excited to help these companies on their way towards growth and expansion.”
DealBox is a full fintech capital markets consulting firm that focused on blockchain, emerging growth, and cannabis companies. In February of this year, we reported that DealBox was involved in an agreement between NASCAR Xfinity Series race car driver Brandon Brown and crypto and blockchain trading desk operator CONO for a sponsorship deal backed by cryptocurrency.