Copy link
Increase text size
Decrease text size
Link copied

Blockstack scores $23M in first-ever SEC-approved token sale

Wed, 11 Sep 2019, 05:50 am UTC

Decentralized computing network Blockstack PBC, the first crypto startup to receive the blessing of the U.S. Securities and Exchange Commission (SEC) to conduct an initial coin offering (ICO) for its blockchain-based tokens, has secured over $23 million worth of investments.

As per a press release, the token offerings included both SEC-qualified token offering and its offering to investors abroad. Specifically, it scored $15.5 million via a Regulation A+ sale of just more than 74 million Stacks tokens in the U.S. and $7.6 million from 30 million tokens overseas via Regulation S, as per an SEC filing.

Notably, the Regulation A+ of the sale marked the first time non-accredited U.S. investors were allowed to participate in an ICO. Blockstack has also attracted a number of strategic investors in Asia, which was a key goal of their offering.

We are in discussions with international investors for an additional $5M+ which may be distributed in a separate private placement or in a follow-on SEC-qualified offering, as we have previously disclosed in our SEC filings. The goal of this additional distribution is to continue growing our community and network in Asia,” Muneeb Ali, co-founder and CEO of Blockstack PBC, said.

Over 4,500 individuals and entities took part in the offering. Notable investors include Arrington Capital, Union Square Ventures, Recruit Holdings, and Hashkey Group.

Just recently, Blockstack has secured a strategic investment from Recruit Holdings, a Japanese human resource giant with a $50 billion cap. Under the deal, Recruit will purchase Blockstack’s Stack tokens, and its partnership aims to introduce more decentralized technology in Tokyo.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $11,591.00 (-1.83%)
  • Ethereum (ETH) $380.50 (-3.78%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $302.74 (-5.42%)
  • Bitcoin SV (BSV) $229.57 (-3.68%)
  • Bitcoin (BTC) $11,591.00 (-1.83%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft