At the end of 2018 Securosys ran a Security Token Offering (STO). The aim was to raise market awareness for Securosys products in the blockchain community and to raise funds to expand the product portfolio and finance international expansion.
The entire project plan was described in the Securosys STO whitepaper and followed Swiss regulations for securities offerings, including a prospectus. The Securosys SET token was introduced as an ERC-20 token on the Ethereum Blockchain as contract 0xe5519b3408fcba6613b44a7a464b6bb884cbfdc1.
SET Token Information on Etherscan
Contract Number
0xe5519b3408fcba6613b44a7a464b6bb884cbfdc1
While the campaign resulted in broader recognition of Securosys HSM in the blockchain market the amount of raised funds was very limited. The collected amound hardly covered the overall expenses for the ITO. Together with its Token holders, Securosys decided to convert (as planned in the whitepaper and regulated in the prospectus) the Securosys SET Token into company shares.
Therefore, on July 8, 2019, all Securosys SET Token were burned and the contract stopped. All Securosys SET Token holders have become shareholders.
Securosys can look back as being one of the first companies to issue stock-backed security tokens. Moreover, it probably was the first company to go full circle and convert these security tokens into company shares.
Securosys continues to execute its product portfolio and international expansion, as described in the whitepaper. The company plans to raise additional growth capital from traditional investors. The company will remain a pioneer with new offerings and solutions for these new and upcoming markets.
