GRADA and Ronco partner in securitized token offering

Cayman Islands-based technology companies and service providers Global Risk and Data Authority and Ronco Metrics have partnered on a project recently awarded to Ronco to launch an asset-backed securitized token offering (STO).

An STO is the design and launch of a cryptocurrency token representing a real, operating business, backed by real assets.

The project involves the tokenization of dry goods, bulk carrier vessels and the raising of capital with which to purchase a fleet of up to five ships. The ships will be managed and operated by a Greek family-owned shipping corporation that has been involved in shipping for over four generations.

Bob Taylor of GRADA said Cayman is on the brink of emerging as one of the key harbors for blockchain-based companies. Cayman already has a highly developed infrastructure for compliance for hedge funds, he said. “It is for hedge funds, so why not for STOs and ICOs [initial coin offerings] as well? We aim to be one of the catalysts in establishing Cayman as a global hub by delivering our holistic and secure compliance solutions here. Partnering with an STO launch out of Cayman is a great message, especially given the global nature of this shipping STO,” he said.


Via Press Release

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