Polymath has now taken its place alongside Jeremy Gardner of Ausum Ventures among other leading industry pioneers as investors in Finova Financial.
Deployed straight to consumers
Speaking shortly after the announcement, Polymath CEO Trevor Koverko commented that “Finova Financial is a growth stage, venture-backed company with deployed products, millions in revenue, and rapid growth.”
“With Finova, we are seeing a more mature, venture-backed company using the benefits of tokenization instead of a company at the seed or early startup phase.”
Hoping to raise over USD 100 million in venture capital and private equity, Finova Financial and its products are built and deployed straight to their consumers.
CEO of Finova Financial Gregory Keough commented after the deal had been announced –
“We’re very excited to be working with the Polymath team and using the ST-20 protocol to show how growth stage companies can forge a new alternative pathway for raising capital and future liquidity on a licensed ATS exchange through the creation of security tokens.”
Finova Financial CEO Keough is the figure behind JOBS Crypto Offering (JCO), which would provide investors with the opportunity to invest in equity ownership of privately held companies using cryptocurrency.
In a JCO, the tokens which represent ownership of shares of capital stock in a privately-held company are then tracked on a distributed ledger or blockchain.
Focus initiative for the Institute for Blockchain Innovation
Initially, JCOs would be sold pursuant to a registration statement that is filed under the securities act, or if the transaction is exempt from registration under the securities act, pursuant to Regulation A+.
The JCO model headed up by Finova Financial CEO Gregory Keough has been chosen as the focus initiative for the newly-created Institute for Blockchain Innovation, which is a think-tank comprising of pioneers from both the traditional and blockchain-based financial world.
Also included in this think tank organization are leaders from regulatory, corporate, venture capital, entrepreneurial and governmental backgrounds.
The institute is geared towards working with leaders in the security token space and establishing certain standards and practices that will enable and encourage the global community to tap into the power of the blockchain in capital markets.
Lover of all things crypto, blockchain and AI, professional tech scribe & part of the editorial team at Crypto Disrupt.