Connect with us

News

Iconic Holding Tokenizes Its Equity as a Crypto Asset in Partnership With Cashlink and Agora Innovation

Published

on

Press Release updated: May 30, 2019 11:00 CEST

​​Iconic Holding announced the tokenization of its equity through a crypto asset-based Employee Stock Option Program (ESOP) at the annual High-Tech Gründerfonds Family Day event. A portfolio company of both FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A) and High-Tech Gründerfonds (HTGF), Iconic cements itself as one of the leaders in the crypto ecosystem by becoming one of the first companies in German00y, and in the world, to tokenize the rights of its GmbH shares through an ESOP program.

Through a unique technical and legal approach developed by the team at Cashlink, a fellow FinLab portfolio company, the liquidation rights of the holding company’s GmbH shares have become tokenized and tradable on the Ethereum blockchain. Leveraging the tailor-made KYC/AML crypto wallet solution IVE.ONE of Agora Innovation, a HTGF portfolio company itself, the ESOP program remains compliant through implemented restrictions to qualified investors only. The program is designed to accommodate additional shares for future employees, as well as future fundraising rounds for interested investors.

“Iconic has been championing Crypto Asset adoption since inception,” said Patrick Lowry, CEO of Iconic Holding. “Every asset, financial or tangible, will inevitably be tokenized due to the benefits cryptographic technology represents. Leveraging the technology behind Bitcoin and other cryptocurrencies, Crypto Assets will usher in a new era of financial inclusion, transparency and liquidity. We are excited to offer tokenized equity rights of Iconic to current and future employees, and open the door for future fundraises through future tokenized equity offerings as we scale Iconic Lab, Iconic Funds and the AMaaS platform.”

Dr. Alex von Frankenberg, Managing Director at HTGF, said “Every Asset, in the long run, will be tokenized. Tokenizing shares of startups is a great start and we think this will be a big success.”

“We see huge potential in the tokenization of shares from startups and this instance of tokenizing ESOP shares shows the vast possibilities of cryptographic technology,’’ said Stefan Schütze, Member of the Board of FinLab.

In partnership with Cashlink and Agora Innovation, Iconic intends to help tokenize the remaining, interested portfolio companies of FinLab and HTGF, as well as other qualified companies, as the consortium continues to expedite crypto asset adoption.

About Iconic Holding:

Iconic Holding is a global crypto asset management firm headquartered in Frankfurt, Germany with offices in London and New York. Iconic Holding launched Iconic Lab, the world’s first decentralized venture capital group and token sale accelerator program, in early 2017 and is issuing a series of crypto asset index funds under the Iconic Funds brand. Iconic Holding is the developer of the crypto asset management platform, AMaaS, as well as an authorized Sponsor Firm of the Gibraltar Blockchain Exchange (GBX) and the issuer of the ICNQ token.

Press Contact:

Iconic Lab Holding GmbH
contact@iconicholding.com
https://iconicholding.com
Phone: +49 157 809 42107

About FinLab AG:

Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A) is one of the first and largest company builders and investors focused on the Financial Services Technologies (“FinTech”) sector in Europe. FinLab focuses on developing German FinTech start-ups and providing venture capital for their financial needs, whereas in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.

Press Contact:

FinLab AG:
investor-relations@finlab.de
www.finlab.de
Phone: +49 69 719 12 80 0

About High-Tech Gründerfonds

High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With EUR 892.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge 540 start-ups since 2005. To date, external investors have injected over EUR 1.9 billion into the HTGF portfolio via about 1,400 follow-on financing rounds. HTGF has also successfully sold interests in 100 companies. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and start-up experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in a range of sectors, including software, hardware and life sciences/chemistry.

Press Contact:

High-Tech Gründerfonds Management GmbH​
Tobias Schulz
t.schulz@htgf.de
​www.htgf.de
T: +49 228 82300 130

About Cashlink:

Cashlink is a venture capital financial technology company founded in 2016. The company is headquartered in the Fintech hub of Deutsche Börse in Frankfurt am Main. The innovative team has one goal in mind: the digitization of easily transferable start-up shares. It is supported in this by renowned investors such as the listed VC FinLab AG.

Through its blockchain-based infrastructure, Cashlink simplifies the fundraising process for start-ups. For professional investors, the company creates flexible, easily transferable digital start-up shares regulated under German law. Cashlink works together with numerous partners such as the start-up Centre Startplatz Köln or the Startport start-up hub. Cashlink is a founding member of the International Token Standardization Association, of the European forum International Association for Trusted Blockchain Applications (INATBA) and the Hessian branch of the Blockchain Bundesverband.

Press Contact:

Cashlink Technologies GmbH
inga.noelle@cashlink.de
​www.cashlink.de/presse
Phone: +49 69 / 348 752 76

About Agora Innovation:

Agora Innovation GmbH was founded in 2017 by Phong Dao, Evgeny Matershev and Robert Malec, who together have more than 40 years of experience in digitization in the financial sector. The blockchain start-up develops the platform-independent software solution IVE.ONE, a compliance layer on blockchain that enables regulated and legally compliant security token transactions in different countries by linking digital identities with anonymous crypto wallets. This product is backed by Germany’s biggest seed investor High-Tech Gründerfonds. Agora Innovation also offers various complementary services in the area of Crypto Currencies, Smart Contracts and Blockchain.

Press Contact:

Agora Innovation GmbH
phong@agora-innovation.com
​www.agora-innovation.com
Phone: +49 177 64 28 26 2

Source: Iconic Holding

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading
Advertisement

Bitcoin News

NYSE files a trademark application for trading NFTs

Published

on

By

The world’s largest stock exchange may be planning to bring business into the Metaverse.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

Traders say $4,000 Ethereum back on the cards ‘if’ this bullish chart pattern plays out

Published

on

By

Global tensions that could trigger a correction in markets abound, but traders say ETH’s current setup could result in a swift return to the $4,000 level.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

CryptoPunks community reacts to the ongoing copyright battle between V1 and V2

Published

on

By

Although the collection is no longer deemed authentic by Larva Labs, its creators alleged sold 210 ETH worth of CryptoPunks V1 when the wrapped versions first gained traction.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

Binance.US is under investigation from SEC over trading affiliates: Report

Published

on

By

Binance CEO Changpeng Zhao allegedly has connections to two market makers buying and selling crypto on Binance.US.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Bitcoin News

Boost Insurance unveils product covering against crypto theft from qualified custodians

Published

on

By

Boost Insurance, an insurance infrastructure-as-a-service platform, alongside go-to-market partner, Breach Insurance, a company that provides insurance technology and regulated insurance products for the cryptocurrency market, today announced the launch of Crypto Shield, an insurance product for cryptocurrency available to retail wallet holders.

Crypto Shield covers the theft of cryptocurrency while in the custody of a qualified custodian.

The Crypto Shield product allows individuals to purchase protection for their crypto wallets held by select custodians. In the case that the custodian is breached or suffers a social engineering attack resulting in lost assets, individuals insured under Crypto Shield can be reimbursed for the value of their policy.

Boost + Breach

While there is some commercial insurance available to cryptocurrency institutions, Breach envisioned Crypto Shield as a solution to the protection gap that currently exists for individuals holding crypto, securing a partnership with Boost to assist in bringing the Crypto Shield product to life.

Boost’s insurance infrastructure-as-a-service packages the necessary operational, technological, compliance, and capital requirements for new insurance programs into a white-label solution, enabling insurtechs like Breach to swiftly launch new lines of business.

“Boost’s deep expertise and insurance infrastructure-as-a-service platform, and Relm’s industry-leading crypto reinsurance capabilities, have positioned Breach to bring a highly complex insurance product to the market in a beautifully delivered customer experience.”
– Eyhab Aejaz, Co-Founder & CEO at Breach

To deliver that product in a seamless experience, Boost and Breach’s platforms connect via API, allowing Boost’s policy administration system to deliver back-end management for the Crypto Shield product. Breach’s customers are then able to purchase and manage every part of their policy and claims process, all from within Breach’s proprietary crypto insurance platform.

“With Boost’s infrastructure-as-a-service platform, companies like Breach can launch and deliver innovative new insurance offerings, at a fraction of the time and cost required to build a full-stack insurance program from scratch.”
– Alex Maffeo, CEO & Founder of Boost

In addition to powering the new product, Boost and Breach partnered to source and secure the necessary reinsurance backing from industry expert Relm Insurance Ltd. (Relm), underwritten by Trisura Specialty Insurance Company. Operating out of Bermuda, Relm is a capacity provider to the crypto sector with a track record of insuring companies across the ecosystem. Relm has recently been awarded an ‘A Exceptional’ Financial Stability Rating (FSR) by Demotech.

“Relm’s partnership with Boost and Breach to reinsure the US’s first cryptocurrency insurance product for retail wallet holders is a milestone in supporting the development of crypto and blockchain technologies.”
– Joe Ziolkowski, CEO at Relm

The post Boost Insurance unveils product covering against crypto theft from qualified custodians appeared first on CryptoNinjas.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

MONSTERCHOMPERS NFTs
BREAKING NEW GROUND

You must have javascript enabled to view this plugin.

Copyright © 2022 The Crypto Report

You have not selected any currency to display