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Australia will now boast its first ever fully regulated STO. STO stand for an end-to-end solution for security token offerings. This has become possible with the partnership of Nugget’s News with Konkrete. Nugget’s News is a popular educational platform that deals with crypto and blockchain-related awareness. Konkrete, on the other hand, is a Melbourne-based security tokenization startup.
In the announcement made by Nugget’s News on their official site, they expressed their excitement about the partnership. In the announcement, Nuggets News said that it is their target to build this joint “offering as the go-to destination for Australians” who wish to launch an STO which is fully legally compliant to Australian regulations as well as other countries’ jurisdictions.”
This partnership is looked with the potential to create “compliant security token” that will issue its investors within the country, New Zealand, Singapore, and the United States. The partnership is an exciting junction of Nugget’s News potential of creating a brand new end-to-end STO solution, and Konkrete’s technical experience and industry knowledge. All this will be legally compliant within the country and in other countries as stated above. On this the CEO and the Founder of Nugget’s News Alex Saunders said-
“Nugget’s News has long been helping Australian blockchain-based startups reach their potential. As the industry and its regulations continue evolving, it is great to be able to join forces with a team as diligent and experienced as Konkrete to know we are launching securities in a fully compliant fashion.”
Further, in the blog, it was explained how this partnership would prove to be beneficial to those users who want to launch an STO in the fields such as “project development, security tokenization, issuance, legal compliance, along with a host of other support services.” This will become possible with the respective expertise of Nugget’s News and of Konkrete. Today, on their official Twitter handle, Nugget’s News posted-
This partnership will prove to be a great boost for the end-to-end solution for security token offerings sector within the country.
Source (https://www.cryptonewsz.com/nuggets-news-partners-with-konkrete-to-launch-australias-first-ever-stos/13275/)