Finova Financial to use Polymath for planned Security Token Offering

Polymath, a blockchain protocol that makes it easy to create security tokens, announced today a strategic investment in Finova Financial, a digital financial services provider. Polymath joins Jeremy Gardner from Ausum Ventures and many another leading blockchain/crypto pioneers as investors in the Finova Financial private sale.

Polymath CEO Trevor Koverko stated, “Finova Financial is a growth stage, venture backed company with deployed products, millions in revenue, and rapid growth. With Finova, we are seeing a more mature, venture backed company using the benefits of tokenization instead of a company at the seed or early start up phase.”

Finova has raised over $100 million in venture capital and private equity and its financial products are built and deployed straight to consumers. Finova CEO Gregory Keough said, “We’re very excited to be working with the Polymath team and using the ST-20 protocol to show how growth stage companies can forge a new alternative pathway for raising capital and future liquidity on a licensed ATS exchange through the creation of security tokens.”

“We’re very excited to be working with the Polymath team and using the ST-20 protocol to show how growth stage companies can forge a new alternative pathway for raising capital and future liquidity on a licensed ATS exchange through the creation of security tokens.”

Finova CEO Gregory Keough

Keough is the creator of JOBS Crypto Offering (JCO), which, if completed, would give investors the opportunity to invest in equity ownership of privately held companies using cryptocurrency. In a JCO, tokens representing ownership of shares of capital stock in a privately-held company are tracked on a distributed ledger, or blockchain. JCOs would initially be sold pursuant to a registration statement filed under the Securities Act or, for a transaction exempt from registration under the Securities Act, pursuant to Regulation A+.

The JCO model has been selected as the focus initiative for the newly-formed Institute for Blockchain Innovation, a think tank comprised of pioneers in both the traditional and the blockchain-based financial systems, along with leaders from corporate, regulatory, entrepreneurial, venture capital, and governmental backgrounds. The Institute is dedicated to working with leaders in the security token space and establishing standards and best practices to enable and encourage the global community to take advantage of the full power of the blockchain in capital markets.

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