Swiss IT Co. Gets Green Light For IPO Using Blockchain

Law360 (January 29, 2020, 7:17 PM EST) -- Swiss information technology company Overfuture received regulatory approval for an initial public offering in which its shares are stored using blockchain technology, the company's financial adviser, Andriotto Financial Services, said Wednesday.

Swiss regulators approved the first articles of incorporation for Overfuture SA, an IT company with operations in Switzerland and Italy, the announcement said. Overfuture is using the Ethereum blockchain and so-called "smart contracts" provided by the European Digital Assets Exchange to offer digital securities, or "tokens," to investors, the announcement said.

The process allows Overfuture to bypass traditional underwriting agreements with banks and other traditional parties to an IPO, Andriotta's...

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