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Chinese Government Indirectly Involved In Security Token Offering
Summary: The Chinese government is indirectly involved in a security token offering (STO) after China Merchants Bank International (CMBI) commits to contributing to the Nervos Network’s STO, according to CoinDesk. While the connection isn’t directly owned by the Chinese government, seven of the bank's top 10 shareholders are partially or fully owned by the state. The ...
The Chinese government is indirectly involved in a security token offering (STO) after China Merchants Bank International (CMBI) commits to contributing to the Nervos Network’s STO, according to CoinDesk.
While the connection isn’t directly owned by the Chinese government, seven of the bank's top 10 shareholders are partially or fully owned by the state.
The STO kick off is slated for Oct. 16, through CoinList’s platform. Aside From CMBI, Polychain Capital has already stated it would be contributing $5.7 million to the STO.
Chinese outlet Chain News reported CMBI has been investing in Nervos in an attempt to build a open platform and new investment bank. This all stems from the possibility Chinese banks could someday be shut out of the dollar economy, according to Wall Street Journal.
By Ramsey Baker
Tags: China,CMBI,Cryptocurrency,Nervos Network,STO
Link: Chinese Government Indirectly Involved In Security Token Offering [Copy]
