KABN, an integrated ID, and blockchain financial service platform, announced today the launch offering of the KABN equity token using the Polymath Token Studio. The equity token is available through a public equity crowdfunding sale via UK-based Tokenise, which is fully compliant with the UK FCA regulatory framework.
Unlike a network or utility token, each KABN equity token will represent a KABN (Gibraltar) PLC preference share as equity or ownership in the company. After spending well over 2 years to develop, test and launch its active business platform, KABN believes that ownership of identity is a basic human right and that individuals should be the primary beneficiary of any use of that identity data.
Ecosystem
To that end, KABN has developed a continuous, Always-On, verified identity solution for commercial clients and consumers that allows individuals to manage both their private and public data, restricting the sharing and use of that data while benefiting the user. KABN also has a platform that will help users maximize the value of their data through qualified offers from 3rd parties, including KABN’s Financial Services program KABN KASH and its Pegasus Flyte digital currency linked VISA card program.
The KABN equity token is a new generation of security token offerings created with the Polymath Token Studio, allowing qualified private and public investors to purchase KABN preference shares, or equity in the company, represented by tokens on the Ethereum blockchain.
The KABN token can be viewed by visiting:
https://etherscan.io/token/0xa3B13D8071A633434B01f4C908C3Fe3874Fbbcf8#readContract
KABN has designed its equity token offering to be a true investment, allowing preference share and token holders to participate in the potential growth and long-term value appreciation of the company.
KABN preference share & equity token holders will receive first priority of dividend distribution and in the event that KABN has a liquidity event, all KABN equity token holders will be included in the event.
Equity Token Offering
Under the terms of its agreement with Tokenise, KABN will be raising a maximum of 8 million euros through the sale of up to 39 million KABN preference shares.
Each KABN equity token will represent one (1) KABN preference share and the KABN equity token will be entitled to all the benefits of KABN preference share ownership. The offering will begin in December 2019 and close no later than February 28, 2020.
KABN Technology
KABN has developed a proprietary, patent-pending platform for its identity verification, validation and data management platform that uses biometrics and the blockchain to manage identity in compliance with Europe’s GDPR protocols and other leading jurisdictional privacy policies. KABN never puts user information on the blockchain and limits the sharing of any confidential data with 3rd parties.
KABN Strategic Growth Program
KABN has also embarked on a path to analyze and where effective, enter value-based relationships in various geographic regions globally. One such proposed opportunity has been announced for KABN Systems North America Inc., whereby KABN will be a holder of shares in this strategically positioned company in Canada, which, subject to regulatory approval will be publicly trading in Canada, and that will represent the KABN product suite in Canada and the United States. KABN believes that these types of opportunities can enhance the value of the company while potentially minimizing the capital requirements necessary to open up its jurisdictional applications. KABN as a company will hold a minority position in the North American enterprise and will be entitled to licensing fees for its proprietary technology usage.
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