Now that Malta has become the first country with cryptocurrency and blockchain regulations on the books, it should be no surprise that a company based on the island nation has developed what it claims is the first initial convertible coin offering, or ICCO.
Blockchain company Palladium said its “tokenized convertible warrant” gives investors the right to convert these tokens into Palladium shares three years after they are issued. The offering will be regulated by a prospectus, which is to be approved by the Malta Financial Services Authority and subject to stringent EU rules.
Palladium founder and Chairman Paolo Catalfamo said the offering will be a “historic landmark” that bridges “the gap between traditional financial services and cryptocurrencies,” according to Coingeek. Read more here.