The Spanish fintech, which offers a centralized platform that allows startups, companies and investment funds to transform their shares into tokens, as an investment alternative, will test a secondary market for tokenized startups in the Spanish sandbox.
Thanks to the Brickken service, “tokenization as a service”, any startup or company will be able to make their own public token issuance (STO) to access capital and facilitate investment as a form of alternative financing.
In addition, the investor will have the freedom to sell his tokens, at the time and with the person he has, which is known as the secondary market.
The startup project was recently chosen to enter the Spanish sandbox, promoted by the Ministry of Economic Affairs and Digital Transformation to test a secondary market for tokenized startups. It has the participation of the Neotec fund of the CDTI, which finances projects that have to do with the Spanish technological environment.
In this regard, Edwin Mata, co-founder of Brickken, stated that currently in the European Union it is not possible to use the distributive registration technology (DTL) because there is no regulation in this regard, therefore, trading securities in secondary markets does not It is possible, unless they are through licensed platforms. Consequently, he argued that “signed up for the sandbox with the goal of becoming a security tokens stock exchange”, in order to create “the first secondary market for security tokens”.
Brickken, through the digitization of real-world assets (tokens), opens up illiquid markets, which are traditionally available only to institutional investors.
“Thanks to blockchain, today any company or startup can obtain financing or liquidity without having to go to institutional investors or traditional investment funds,” Mata said.
He also stressed that the idea is that any company at a global level has access to this technology and can set up its own financing scheme without having to go to a decentralized platform, he also highlighted the fact that the proposal has a cost, which did not make reference, since monetization is embedded in smart contracts, as well as the technical functionality that they offer in a large part of the regulations that STOs must comply with.
The app is 100% decentralized, a feature that differentiates it from others on the market, that provides the technical functionality that makes it possible for individuals or businessmen to tokenize the asset in a very simple way, in addition, according to the manager, they are currently doing concept tests to continue filling their database in relation to the legality of other countries.
The company was founded in 2020 by a team of entrepreneurswhich due to their skills in marketing, legal, financial and technological, have achieved their launch in the market.
Until now, the startup has been sustained with its own financing and from Startupbootcamp, a recognized acceleration program. Currently, it has launched a round of seed funding to expand and attract customers, thanks to the financial support of the CDTI’s Neotec fund.
Keep reading: