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SOMA Finance, birthed from a collaboration between MANTRA and Tritaurian Capital, intends to make financial history. The financial tech firm announced its strategy to release the world’s first digital security fully compliant with legal standards. Targeting both American and international investors, the firm aims to roll out this game-changing product by early October.
The startup has revealed that the offering involves selling tokens that could potentially reach up to $5 million in valuation. The initial batch of these tokens will be sold at $2.50 each. Not just a mere speculative asset, these tokens promise to reward holders with up to 10% of SOMA's annual profits through dividends.
The SOMA token sets itself apart by offering its holders a concrete financial stake in the company. Instead of being another coin that might lose its value overnight, this token acts as a non-cumulative, participating preferred stock in SOMA Finance, thereby giving investors a more secure and tangible asset.
The token is not only the first of its kind for the company but also a pioneering product in the regulatory landscape. It marks the first issuance under regulation crowdfunding (Reg CF) on the SOMA.finance platform. The platform itself serves as a decentralized exchange (DEX), offering a range of digital products like tokenized equities and non-fungible tokens (NFTs).
William B. Heyn, one of the co-founders and co-CEOs of SOMA.finance and also the CEO of Tritaurian Capital, indicated that the company had focused on liaising with regulatory agencies. The aim is to offer a decentralized financial marketplace that meets the highest regulatory standards.
Tritaurian Capital, a regulated broker-dealer, holds memberships with both the Financial Industry Reporting Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). The firm distinguishes itself as the first broker-dealer not affiliated with an alternative trading system (ATS) to receive a license for selling digital securities using blockchain technology.
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