The race to become the first platform offering Security Token Offerings (STOs) is mostly being run by dApp developers, on the Ethereum network, but no-one has issued a working platform on which users can actually buy and trade STOs, until now.
Whilst organisations like Polymath have taken a back-end approach to STO issuance, Max Property Group (MPG), a property investment company from the Netherlands, has been developing a front-end focused property crowdfunding platform. It may not enjoy the same hype as some of the better known dApp developers or protocol builders but Max Crowdfund is a functioning property platform with over 70,000 users in 180 countries, operational in over 20 languages.
The platform has been built on an Ardor child chain and some of its users can already buy STOs in the form of property bonds. With today’s announcement of being listed on a public exchange, they are well on the road to becoming one of the leading organisations to have tradable Security Tokens on a blockchain.
Max Crowdfund, previously Dominium, is an asset backed (property) crowdfunding platform on which approved users can invest in property backed assets from as little as €1,000. The assets currently on offer are exempt from regulation in the Netherlands, and investors can already invest in these assets, making them security tokens in every sense. (Users outside the Netherlands may also potentially invest in these assets, subject to local regulations).
MPG is currently developing the functionality for third parties to create assets on the blockchain, using the asset creation tool on the Ignis childchain. Once this process is complete, they will be able to offer tradable Security Tokens on a blockchain. In order to allow traders to actively trade these assets, appropriate licenses will be sought from regulators in the Netherlands and Europe where new crowdfunding regulation is being developed by the European Union.