PO8, a Bahamas-based technology firm, recently announced plans for what they believe will become “The Gold Standard” of STOs. The group is playing an active role in developing the tech scene in the Caribbean, a major part of which is blockchain and cryptocurrency-focused.

PO8’s STO, which is being issued at a $300M market cap, will be the first STO out of the Caribbean to be issued through a third-party. Because the offering is being issued by a third-party with decades of experience in issuing securities in traditional markets, PO8 will not have any influence over the token supply.

Additionally, the PO8 team has put meticulous detail in designing the tokens smart contracts to operate in a way that mimics local regulation, so as to create an STO as close to a regulated issuance as possible.

The firm hopes their departure from the typical STO model will help trigger an evolution in the space, from STOs that look similar to ICOs to token offerings that behave much more like securities. Rather than a whitepaper, the firm will be issuing a 50-page prospectus that includes financials, legal documents, projections and other information typically attributed to traditional market issuances.

According to Raul Vasquez, COO of PO8:

People think that an STO’s just going to be a whitepaper 2.0 and they’re mistaken. It’s more than a whitepaper now. It’s about showing projections. It’s about showing financials. It’s about showing who the insiders are and under which corporate jurisdiction. All of these questions need to be answered so investors can do their due diligence.

By offering potential investors added transparency, PO8 hopes to allow investors to make more informed decisions. Vasquez also believes that the STO market has failed to fully blossom because no clear leader has yet developed a defined, correct way to conduct offerings.

Vasquez added:

You hear in the market that STO’s aren’t picking up quickly and I think that’s because there isn’t any ‘Gold Standard’. It’s going to happen. It takes companies like PO8 to get out there and say ‘Hey, this is how it has to be done’. We don’t have to reinvent the wheel. Let’s look at what Wall Street did and apply it to crypto.

By holding themselves to the highest standard in the industry, the PO8 team looks to become the measuring stick upon which future STOs compare themselves.

Complying with the PO8 Gold Standard will require STOs to release detailed information including but not limited to the following:

Corporate Jurisdiction

Articles of Incorporation

Share Structure

Business Plan or Operational Plan and or Disclosure Information

Board of Directors

List of Controlling Interest

Financials (GAAP or IFS)

Registration of Offering

Contractual Agreements

Disclosure of Litigation(s)

Smart Contract on Blockchain with Share Stock Metadata

Custodianship or Transfer Agent controlling Distribution of Tokens

Token Sale Sponsor