Share this article
Ontario Securities Regulator Approves TokenFunder ICO
The Ontario Securities Commission is allowing startup Token Funder to launch a regulated initial coin offering (ICO) next month.
By Nikhilesh De
Updated Sep 13, 2021, 7:04 a.m. Published Oct 25, 2017, 8:00 a.m.
Make us preferred on Google
The Ontario Securities Commission (OSC) has given its blessing to an initial coin offering set to launch at the start of next month.
In a decision posted online Oct. 23, the OSC approved the token sale organized by TokenFunder, which is developing a platform for projects aiming to raise funds through coin sales of their own. The company is aiming to raise roughly $10 million, with the sale set to commence on Nov. 1.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Though not the first ICO in Canada to receive the blessing of a regulator, it is the first for the province of Ontario. It's also one that comes months after the OSC issued a public statement on the blockchain use case, declaring that that some offerings would trigger the agency's oversight.
In a statement to CoinDesk, the agency struck an optimistic tone about the approval, remarking:
"It is important that we continue to foster innovative new ways to raise capital and invest, and this announcement is a testament to the dedicated support we are providing in this space."
As part of the legal framework surrounding the campaign, TokenFunder will be treating its coin offering as a security. Similarly, the token management platform the company will launch will be classifying future offerings as securities.
TokenFunder follows Quebec-based Impak Finance as one of the first companies in Canada to launch an ICO under the oversight of a provincial regulator.
Canadian flag on keyboard image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
BNB rises 2.5%, nears $900 mark as prediction market growth signals utility expansion
A new physically backed BNB exchange-traded product launched on Nasdaq Stockholm, adding to existing investment options.
What to know:
- BNB token climbed 2.5% to $89e, approaching the $900 resistance level, with increased trading volume suggesting fresh buying interest.
- A new physically backed BNB exchange-traded product launched on Nasdaq Stockholm, adding to existing investment options like Grayscale's pending ETF filing.
- BNB Chain saw significant growth in prediction markets, with platforms like Opinion Labs logging over $700 million in 7-day trading volume and cumulative trading volumes crossing $20 billion.
Top Stories
