Investment platform BnkToTheFuture is expanding its service to let equity buyers tap into the growing market for initial coin offerings (ICOs).
An investment hub for industry startups that has helped investors back firms like Bitwage and Unocoin, BnkToTheFuture is moving to allow investors to buy so-called Simple Agreements for Future Tokens, or SAFTs, a legal framework for token issuance developed by startup Protocol Labs.
Modeled after Y Combinator’s Simple Agreements for Future Equity, or SAFEs, via which investors can fund startups and receive equity at a later time, SAFTs similarly let investors pay to receive tokens in the future.
Notably, Protocol Labs utilized the framework for its Filecoin ICO yesterday, which was hindered by technology issues yet raised as much as $200 million in just an hour.
Through BnkToTheFuture, investors would buy SAFTs, as well as equity from startups planning to launch a token sale at a later date. Next month, it will let investors buy pre-sale SAFTs, though without the option to purchase equity.
CEO Simon Dixon told CoinDesk that the launch came following calls from the site’s user base, as well as the recent rise in activity around ICOs.
He told CoinDesk:
“Our investors were demanding [that we] provide more liquidity in their investments and established companies wanted a way to access some of the new liquidity
Read more ... source: CoinDesk.com
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