LCX Gains Regulatory Approval For First 10 Million Euro Tokenized Bond
Vaduz, Liechtenstein, Feb. 08, 2023 (GLOBE NEWSWIRE) -- LCX is the first company in the cryptocurrency industry to issue a fixed-yield-earning product (EURt7 tokenized bond) that is based on an approved securities prospectus. The EURt7 tokenized bond has been approved by the Regulator in Liechtenstein and has been passported across 29 European additional countries. This is a significant milestone for LCX as it demonstrates their commitment to regulatory compliance and expanding the reach of their product offerings to a larger market.
On February 1st 2023 LCX received the approval for its 10 Million EUR tokenized bond by the Financial Market Authority Liechtenstein. The security prospectus has been passported across all countries in the European Economic Area (EEA), making the new fixed-yield tokenized bond available to verified LCX users in 30 countries including Austria, Belgium, Bulgaria, Croatia, Cyprus, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and Czech Republic.
The EURt7 tokenized bond marks the introduction of a new product category at LCX called LCX Earn, where LCX plans to issue a variety of tokenized bonds after regulatory approvals have been obtained. This approval demonstrates that LCX has met the necessary regulatory requirements for the legal issuance of the tokenized bond.
The first offering is the EURt7 tokenized bond which is issued by LCX AG offering a fixed coupon of 7% per annum. The EURt7 token has a minimum investment requirement of EUR 1,000, thus limiting the maximum number of investors to 10,000. To take advantage of this fixed-yield offering, users need to get verified at LCX.com and deposit funds. LCX Earn with its first product offering, the EURt7 tokenized bond, will be launched and available at the LCX platform on March 1st, 2023.
As a leading player in the tokenization of capital markets and digital securities, LCX is proud to offer the EURt7 tokenized bond to its users, providing them with an innovative investment opportunity that combines the benefits of blockchain technology and security of traditional bonds.
About LCX: LCX is on a mission to redefine finance as we know it, becoming a new category leader innovating capital markets powered by blockchain technology. LCX established one of the world’s first regulated and compliant blockchain ecosystems for professional investors. LCX is a global financial technology company based in Liechtenstein that focuses on tokenization of assets, utility and security token offerings, and advanced trading tools. Learn more about LCX at https://LCX.com
CONTACT: Sumit Sagar Press Contact pr-at-LCX.com