First Security Token Offering Out of Spain with Approval of Spanish Financial Authority

  • NEXT, a STO carried out by Icofunding, has received an approval of the Spanish Financial Market Authority (CNMV) to launch their Security Token Offering out of Spain.
  • Next , a connected car platform, will be the first company to launch tokenized securities out of Spain, and will fall under the required regulation of the “CNMV”, the Spanish Financial Market Authority.
  • In the approval obtained by the Spanish Financial Market Authority, it’s specified that these type of tokens are being classified as securities, as described in article 35.2 of the Spanish Securities Law (Ley de Mercado de Valores “LMV”).

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