Luxembourg-registered financial firm Black Manta Capital Partners has received a license from the German Federal Financial Supervisory Authority (BaFin) for its Security Token Offering (STO) platform.
A regulated STO platform in Germany
Black Manta Capital Partners announced on Aug. 19 that its Berlin-based entity received a MiFID II license by BaFin for its regulated STO platform on Aug. 1 nine months after filing. Now, the company will be able to offer regulated brokerage services using blockchain technology.
On its platform, the firm represents rights to an asset as tokens managed by on-chain contracts. This system reportedly allows for new access to capital for small and medium-sized enterprises, real estate projects, startups, commodity markets or funds and new access to investments for new investors.
A firm with global ambitions
The issuance of such security tokens is regulated in Germany by the MiFID II Directive on Financial Instruments, and the first STOs are planned to be conducted in early Q4 2019. The company has also broader ambitions:
The firm also plans to found Black Manta Asia, in Singapore, and apply for a similar license with the local monetary authority. Co-founder and managing partner of the company commented on the firm’s intentions: