France has created a unique regulatory regime for the issuance and trading of digital assets that are utility tokens. Under French law, an initial coin offering (ICO) issuer may apply for a “visa” to offer a utility token. If approved, the issuer may publicly promote the digital asset offering that is not considered to be a security.
Until several days ago, only a single ICO issuer had been “white-listed” by the French Autorité des Marchés Financiers (AMF). On May 12th, the second ICO was approved for a visa.
WPO, a firm founded in 2008 that services more than 600 wind farms and solar parks in 12 European countries as well as outside the EU. The company reports a capacity of more than 5 gigawatts, or 1700 wind turbines, and 12 million photovoltaic modules. Today, WPO contributes electricity from renewable sources for the equivalent of about two million people.
WPO’s ICO is for a “GreenToken” (GTK) public offering seeking a minimum amount of €1.5 million or up to €10 million. Purchasers may buy a token at €95/each with a minimum of €100. The offering kicks off on September 8, 2020. You may book your tokens here – now.
The GreenToken is described as a digital asset being used to finance a new business model for the energy sector. WPO is launching the GreenToken Project as an accelerator for “Energy Transition.” The tokens may be used in the future to acquire goods and services from WPO and the GreenToken Network.
WPO explains that it will be possible to pay for these goods and services with GreenTokens and/or legal tender currency.
Beginning on December 1, 2020, GreenTokens will freely trade on the French exchange platform SAVITAR or directly within the GreenToken Network – so purchasers may speculate on the price of the crypto.
Barthélémy Rouer, CEO and founder of WPO, issued the following statement following receipt of the AMF ICO visa:
“This approval from the AMF is a key milestone to bring clarity and trust for investors. We are very proud to receive this approval and publicly offer this incredibly innovative tool, the GreenToken, to immediately invigorate and optimise the production of renewable energy.”
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