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Switzerland Approved The First Blockchain-based IPO; Municipality Introduces Bitcoin POS

30 January 2020 16:38, UTC
Switzerland Approved The First Blockchain-based IPO; Municipality Introduces Bitcoin POS

Swiss regulators have approved the country's first Ethereum blockchain-based IPO. The Swiss blockchain company Overture has announced that it’s ready to start an IPO in accordance with the state standards. The company will launch an initial offer of Class A shares on the Ethereum blockchain. The shares will be as tokens on the platform of the first decentralized digital assets exchange EURO DAXX.

Investors get the opportunity to take and sell shares. The platform of the exchange ensures the confidential transaction, the reliable settlements, and the absence of intermediaries. EURO DAXX complies with KYC and AML. One of the advantages is that shareholders are exempt from depositary fees. However, there is one question that Overture and EURO DAXX have not yet answered - how can shares be brought to the secondary market. At this stage, only one option is possible - the issue of derivatives.

It is also known that the Municipality in Zermatt has announced that it is possible to pay taxes and make transactions with bitcoin. The Mayor of Zermatt Romy Biner-Hauser believes that it is necessary to support residents with technological solutions. In addition, the progress has been achieved in partnership with Bitcoin Suisse. At the moment, a Bitcoin POS terminal is installed in the Zermatt town hall, where residents can pay for state and utility services with bitcoin.

Image courtesy of Cryptoconsulting



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