Swiss based Finka GmbH has issued the FINKA TOKEN, a Security Token available for public purchase starting December 23, 2019. Each FINKA TOKEN is valued at CHF 1.00 and grants token-holders a pro-rata share on the Net Operating Revenue of the underlying asset valued at CHF 10,000,000
A tax ruling is pending and the tokens will likely not be subject to withholding tax.
The official announcement of the issuing of the Finka Token on the 23rd of December 2019 was a major milestone for Finka GmbH, after many months of hard work, research, stimulating innovation and collaboration with significant players in the Crypto Valley ecosystem.
As an innovative financial instrument, the Finka Token embodies the convergence of a traditional productive activity with evolving crypto-finance, based on blockchain. As a result, the Finka Token is a security token and qualifies as a ‘first-of its-kind’ financing vehicle for the industry, while providing access to the common investor to an asset class which was previously inaccessible. At Finka GmbH, we are convinced this milestone also represents a disruption of the classical financing models. Our hope is that it will be copied and used as a reference for future unconventional financing instruments. We are carving a path for providing new investments opportunities globally. Needless to say, we are very proud of this accomplishment.
At this point, we feel that it’s fitting to name the players in the eco-system that have contributed their talent, dedication, trust and friendly collaboration to the Finka Token project. Without them, democratizing cattle as an asset class for the very first time wouldn’t be possible! So, thanks to:
CVLabs AG for hosting us in their co-working space in Zug in early 2018. We were one of the first tenants and this exposure was our entry point into the stimulating Crypto Valley.
inacta AG for providing us with valuable technical advice as well as leadership.
Froriep AG for providing valuable advice on legal, accounting and tax matters for financial securities. This leading Zurich law firm was fundamental in the development of the Finka Token
CoreLedger AG for providing a suitable environment for our token on their novel Token Economy Operating System, TEOS.
DSENT AG’s TokenGate, a unique on-boarding platform for investors, ensuring full compliance to KYC AML as required by Swiss laws and regulations.
Bank Frick AG for their support from the very beginning, and for providing financial services for the next phase of Finka GmbH
Capital Management Partner AG for providing KYC, ALM and escrow services for screening investors.
GenTwo Digital AG who will provide the future securitization service by providing a Swiss ISIN for the Finka Token as a bankable instrument.
MME AG for setting up our company and helping us with the first steps into the Swiss legal system.
Update March 2020: The tax ruling has arrived and the token is - as expected - exempt from Swiss Withholding Tax