A blockchain bond was filed by LCX for 10 million euros in early February, 2022. The filing in Lichtenstein, upon receiving regulatory approval, provides LCX with a tokenization of the blockchain with their newly announced LCXS1 Token. LCX plans to use their asset tokenization platform, LCX Token Launchpad to conduct a security token offering (STO).
LCX is at the forefront of tokenization of capital markets and digital securities. A blockchain bond is a tokenized security powered by distributed ledger technology to automate the execution of the bond’s terms via programmable smart contracts. The tokenized bond is called the LCXS1 token and will be publicly offered by LCX at LCX’s platform after regulatory approvals. The filing of the security prospectus to the Financial Market Authority is a key milestone in the process of launching regulated digital assets. LCX’s legal representative has filed the security prospectus, and a variety of additional required documents as appendix, for approval today. Terms and conditions of LCXS1 token may change during the regulatory approval process.
LCXS1 Token is a tokenized bond structured as a fixed-income corporate bond. Token holders will get a fixed coupon of 7% per annum. The funds raised will be used for liquidity growth at LCX Exchange and for operational development.
LCXS1 Tokenized Bond Summary
Issuer: LCX AG, Liechtenstein
Issuance Amount: 10 Million EUR
Coupon: 7% per annum
Denomination: EUR 1,000. The minimum consideration is EUR 1,000.
Maturity / Term: 7 Years max. Quarterly termination possible.
Governing Law: Liechtenstein
Blockchain: Ethereum public blockchain
A coupon payment on a bond is the annual interest payment that the token holder (bondholder) receives from the bond’s issue date until it matures.
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