Source: CoinDesk
Blockchain startup Harbor has officially launched its security token compliance platform and is moving to offer digitized shares in a high-rise building located in in South Carolina.
Announced Tuesday at CoinDesk’s Consensus: Invest event, Harbor is now allowing investors to register to buy shares in apartment block called The Hub at Columbia, owned by the real-estate wing of DRW Holdings, Convexity Properties. There are 955 shares – represented by 955 tokens – available at a cost of $21,000 apiece.
The company, which raised $28 million earlier this year, develops ERC-20 tokens, an ethereum standard, for companies that want to put up equity or other forms of interest by way of a tokenized offering.
Harbor CEO Josh Stein told CoinDesk that the company’s platform allows it to track security token trading and investors’ real-world identity in real-time, ensuring that token sales are “compliant every time, everywhere.”
Offerings on Harbor’s security token platform operate similarly to a normal private placement sale, he explained. The key difference comes from the platform’s use of a blockchain protocol and structure, which allow companies to tap into a wider pool of investors.
Typically, an offering like Convexity’s might be sold to 10 or 20 investors, each of whom would have to contribute a significantly larger chunk of the total funding. Harbor’s platform makes it easier for anywhere from 100 to 2,000 accredited investors to participate, allowing each a $21,000 minimum stake, which is smaller…