The company originating in Ecuador, Viplecon, will incorporate Tokenized Shares in Blockchain (Security Tokens) into its system. In parallel, Viplecon will perform a STO (Security Token Offering) to develop a Marketplace of Tokenized Shares in Latin America.
The Ecuadorian company is dedicated to representing SMEs as well as large companies in Ecuador, offering its services of innovative solutions in the corporate law sector. Likewise Viplecon, has management of the technology blockchain y Smart Contracts.
For the tokenization of the shares, Viplecon will use the Waves Blockchain blockchain network, which is a platform that is dedicated to allowing its users to create their own and personalized tokens.. The choice of this platform by Viplecon comes thanks to the low cost, scalability and the non-fractionation of the currency. They will also issue a Security Token Offering, “Security Token Offering” in Spanish, where 10% of Viplecon’s capital will be used for its creation.
According to one of the representatives of the company exclusively for Cointelegraph Español, The project lasted 60 days to be able to execute and submit the respective request to the Superintendency of Companies, Securities and Insurance of the Latin American country; validation that was successfully received under procedure number 101036-0041-21.
The creation of an STO is in accordance with the fulfillment of certain processes in order to efficiently have a result that meets expectations. These processes are initially the creation of the project itself, then characterize the financial structure of the STO, then the insertion of the STO in the market that, previously, had to be reviewed by external agents, for example by a broker. The stage of marketing and checking that the assets are having a correct operation begins.
In the case of the Ecuadorian company, The project was based on the Entrepreneurship Law dated February 28, 2020, in order to proceed to its legal framework within the laws of the Republic of Ecuador. In that sense, se plans to carry out the respective STO for the general public on October 29.
ICO’s and STO’s
As well as the STO’s, there are other concepts and processes through the financial world has developed with respect to cryptocurrencies, an example of this is the ICO (Initial Coin Offering); there is usually confusion between STO’s and ICO’s. The difference between the two concepts is that, according to Cointelegraph, “ICOs offer a utility token (hence the term utility) for a specific platform or space. (..) STOs offer a Security, a term that English refers to a fungible and negotiable security that has some type of monetary value within the financial sector ”.
Regarding legal regulations, “Some have raised ICOs as a future sale of a good while others see it from the point of view of selling a right to access a specific space. All the arguments seek (…) not to be seen as a value that can be regulated by strict legal regulations. ” Whereas, “STOs cannot use the same legal argument as ICOs since their concept in itself is to offer a security as it is regulated in the investment market. This implies that STOs must meet the same requirements that a company that intends to go public would have to publish “, as explained by our Cointelegraph web portal.
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