HAMILTON, Bermuda, Feb. 26, 2019 /PRNewswire/ -- Building on the momentum established via 2018 investments from Exponential Ventures and Bitmain Technologies, tribeOS added a landmark achievement to its accelerating road map.
FIRE, the tribeOS Security Token, was recently federally approved in Bermuda, a globally respected international financial centre. tribeOS, the ad marketplace using blockchain to fight organized ad crime, had submitted a comprehensive Security Token Offering and ICO Application to Bermuda's Ministry of Finance.
Matt Gallant, CEO of tribeOS added, "The FIRE Security Token approval from Bermuda's Minister of Finance is a real catalyst for our 2019 capital raise. Funding obtained from private investors will help us achieve the tribeOS core mission and deliver the most protected, ad fraud-free marketplace for digital advertisers and publishers available anywhere. The funds from this raise will be earmarked to aggressively onboard advertisers. In fact, we've already started closing deals with some significant companies which we will announce soon."
The approval of this precedent setting Security Token Offering from an official government body, especially from a nation with the financial rigor of Bermuda, was a herculean task. The offering demanded a thorough, holistic approach that enlisted marketing, investor relations, operations, company leadership, compliance experts, collaboration with digital security advisers as well as legal teams that spanned three countries: Canada, Bermuda, and the United States.
Why did tribeOS chose Bermuda for its STO approval? The country has taken the lead globally on recognizing digital securities. Bermuda is growing as a digital asset hub with the approval of its recent ICO Act. This is in addition to Bermuda's already stellar reputation as headquarters to multiple Fortune 500 companies from the insurance, finance and business services sectors.
Preparing the offering to Bermuda required an innovative and strategic approach. For that reason, tribeOS developed a new model and structure for a Security Token Offering. Investors familiar with private placements will recognize similar features tribeOS deployed with its STO.
FIRE is a securitized digital asset. As a preferred equity token, investors will share in revenue and marketplace growth through preferred dividend payments. In addition, FIRE is only available to accredited investors and is not currently available on any exchanges.
Security Tokens as an investment category are also in the news. An Entrepreneur magazine article from author AJ Agrawal noted, "Security tokens hit a marketing sweet spot between forward-thinking (but often risky) ICO tokens and conservative, SEC-sanctioned products backed by real-world assets."
Now that tribeOS has gained approval for FIRE from the Bermuda Minister of Finance, the next key initiative will see the company debut a working model of the ad marketplace later this year.
For media inquiries, expert quotes on digital advertising, blockchain and securitized assets, as well as access to tribeOS leadership, please visit: https://tribeos.io/newsroom/
Go here to learn more about tribeOS and the FIRE digital security.
tribeOS, is a blockchain-based digital advertising marketplace designed to help advertisers and publishers run secure, ad fraud-free campaigns online via a fully transparent platform. The tribeOS mission: create the fairest, most transparent, most profitable digital advertising marketplace in the world by ending ad fraud, increasing accountability, and ease-of-use for advertisers and publishers.
Marc Harty, Public Relations Director, tribeOS