Bitbond, Germany based Blockchain lending platform is planning to launch a security token offering (STO). The firm claims itself to be the first one to launch an STO, by getting the approval of Germany’s financial regulator, BaFin. The STO will be open until July 8 for investors from all around the world except for the US and Canada.

This Blockchain platform wants to raise the investment to a whopping €3.5 million ($3.9 million). This will help the firm continue lending loans to small businesses. BB1’s, as the security token is called, is like a bond which the Bitbond will repurchase after a period of 10 years.

Bitbond is responsible for lending money to small and medium-sized e-commerce(SME) websites. It boasts about having processed over $15 million of business loans to SMEs. Bitbond founder-CEO, Radoslav Albrecht remarked that small business plays a crucial role in the economy by hiring most of the employees throughout the world. The STO is a great way to empower small businesses and their own growth as well.

Though Bitbond started in 2013, it has added a lot of feathers to its cap. It has raised millions in VC funding so as to support loaning.