LONDON, UK / ACCESSWIRE / September 4, 2018 / -- The Elephant, a London-based blockchain-powered secondary market platform, announces that Eastmore Group, an alternative investment firm, has joined its Security Token Offering (STO) as its first institutional investor.
“We are proud to join The Elephant STO and its token offering that allows for investors to enter the crypto space with asset-backed tokens which are backed by equity rights in some of the most promising privately held companies around the globe,” noted Eastmore managing director Bryan Reyhani. “The tokenization of these private company equity rights allows for expanded investor access and greater liquidity in companies that choose to remain private for a longer duration.”
According to Chaim Schiff, The Elephant’s CEO, “Eastmore’s decision to join The Elephant STO is an important cornerstone in our fund-raising process as it is the first significant institutional investor to join the round.” Schiff also noted that the investment marked “validation that security tokens will open the door to new types of investors who are looking to enter the crypto space, but in a more secure and regulated area of the market, with the backing of tangible assets.”
About The Elephant:
The Elephant is a stable “real asset” investment platform that connects crypto holders with private companies via the secondary market. The company has a portfolio that includes shares in over 20 unicorn and other high-profile pre-IPO companies for sale (such as DIDI, OFO, Palantir, Outbrain and Gett), with over 2,000 registered investors to date. Its PEC (private equity coin) token is currently in a private sale.
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Source: The Elephant