Corporate Finance, DeFi, Blockchain, Web3 News
Corporate Finance, DeFi, Blockchain News

ICO Charter: Publication of the first Best Practices Charter for crypto fundraising

While fundraising in cryptocurrencies, ICO (Initial Coin Offerings) or ITO (Initial Token offerings), have been recording a meteoric growth in 2017, Avolta Partners, Leloup Partners, Exaegis, Kramer Levin, KYC3 and Scalene Partners, major players in the European market, announce the publication of the ICO Charter. This first Best Practices charter, which signatories have committed to, aims at promoting the controlled growth of this deregulated market.

The signatory companies say: " we strongly believe we need a European ICO/ITO manifesto, to create best practices in this exciting new innovation, enabling projects to federate resources in a regulator-free environment, i.e. in the existing legal frameworks, so entrepreneurs won’t be intimated or stifled in developing innovation in Europe."

The 10 points of this Charter cover the entire ICO / ITO process, in terms of financial and technological transparency:

1. Information provided on the ICO / ITO project
2. Independent legal review of the ICO/ITO Token and its issuer
3. White Paper features
4. ICO / ITO Smart Contract Code and tech specs.
5. KYC, anti-laundering and antiterrorist process
6. Tokens and cryptocurrency raising process
7. Use of ICO / ITO proceeds
8. ICO / ITO Safety and Security
9. Acceptance of a third-party audit to measure the project risk
10. Post-ICO Information

For Laurent Leloup: " Talking about a market that’s able to finance innovation and potentially supersede venture capital, it would be a shame to stifle the ICO phenomenon by a mere suspicion of principle: So as to develop harmoniously, the ICO/ITO market needs a self-regulatory structured approach that we are keen to discuss with public authorities".


About Avolta Partners - Created in 2012, Avolta Partners provides independent M&A and corporate finance advice to high-growth, innovative and leading companies in Europe.
Based in Paris, London, Brussels and Lisbon, Avolta Partners advises high potential companies during all their stages of development: from the Series A to the Exit.
Avolta Partners already closed more than 40 high level transactions in the High-Tech industry.

About Leloup Partners - First French player dedicated to fundraising in cryptocurrencies, Leloup Partners offers the expertise of a team of experts in finance, financial engineering and tokens design, graphic design and website development, elaboration of whitepapers, blockchain development and IT security. The company is planning 8 operations by the end of 2017, for European and Asian companies, which could amount to a total of € 200 million.

About Exaegis - Exægis has based its development on an evaluation model of the operational and financial performance of digital businesses and provides operational guarantee for digital companies. Its platform (certified by the Finance Innovation cluster for accounting and consulting businesses) offers a free rating service for startups. It delivers the TRUXT and StarTRUXT labels and its corollary ICOTruxt dedicated to ICOs and the blockchain. Its clientele includes key accounts, banks and investment funds.
Exægis belongs to the BPI France Excellence network and is part of the Deloitte Tech50 2016.

About Kramer Levin - Founded in 1968, with offices in Paris, New York and the Silicon Valley, Kramer Levin Naftalis & Frankel LLP is an international law firm with over 375 lawyers. Its clientele is largely made up of investment funds and leading financial institutions. The Paris office has a premium Alternative Finance team recognized in particular for its expertise in blockchain and cryptocurrencies.

About KYC3 - Founded in 2014 and based in Luxembourg, KYC3 develops the technology, processes and UX for continuous, real-time KYC.
We make compliance effortless - reducing risk and cost while improving customer experience. KYC3 is a founding member of Infrachain asbl.

About Scalene Partners - Scalene Partners is an independent fundraising advisory boutique created by three former investment bankers from Rothschild & Co.
Combining nearly 10 years of experience, Simon Eischen, Mike Assouline and Samuel Assaraf participated in the realization of around twenty major European and international transactions, representing a total enterprise value of approximately 30 billion euros. Scalene Partners' ambition is to bring the know-how and technical skills acquired on the occasion of these transformative operations to the start-up environment in order to accompany them in the realization of their fundraising operations. Scalene Partners has recently extended its field of intervention to Initial Offering Coin (ICO) operations in order to replicate the best practices of traditional fundraising in an environment which is still not regulated to date.

Mardi 24 Octobre 2017