Specifically, the alliance will reportedly pave way for an introduction of a tool for regulated security token custody, focusing on institutional investors, people with a high level of net worth, as well as enterprises.
Black Manta and Finoa will reportedly start by jointly working on obtaining the tokens of the Berlin STO, which helped put $12 million equivalent through tokenization in April.
Finoa is reportedly recognized as a crypto asset custody provider from Berlin, who has successfully obtained the authorization to offer crypto custody service from the German Federal Financial Supervisory Authority (BaFin).
“Germany’s crypto custody legislation triggered a wide range of service providers in the digital assets space to apply for a BaFin licence. The German legislation was a crucial step to bring the confidence and liquidity of professional players to the space. In Finoa we see a team that is not only well positioned to cater to the high end investor class, but who bring also a mindset to the table that will be needed to develop this rapidly emerging market.” Black Manta co-founder and managing partner Christian Platzer reportedly remarked.
Platzer has reportedly made comparisons regarding STOs to other commonly used methods, claiming they have a “lower transaction costs, transferability, tradability. You can invest in real estate today, without going to a notary.”
Black Manta has managed to secure an operating license for its STO platform from BaFin in summer last year.