TokenMarket, a Fintech operating under the watchful eye of the Financial Conduct Authority (FCA) Fintech Sandbox, has completed its first security token offering (STO) for equity in the firm. TokenMarket set an initial funding goal of £150,000 but had stated it would have accepted several million pounds.
In an email TokenMarket distributed, the company explained its next steps:
“Now our raise has been completed, we are working with the UK’s Financial Conduct Authority (FCA) to review the final stages of the STO. We hope to graduate the sandbox test environment in the coming weeks and achieve our full FCA license.
For those who invested in the TokenMarket STO, your security tokens will be distributed in the coming weeks. In order to make sure that you are ready to receive your TokenMarket tokens, we have prepared a short video for you to set up your wallet.”
TokenMarket said it has “a lucrative pipeline of STOs already lined up.”
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