Publication:
Security Token Offerings: Regulatory Approaches and Lessons from Global Case Studies

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dc.contributor.authorWorld Bank
dc.date.accessioned2025-01-07T19:32:04Z
dc.date.available2025-01-07T19:32:04Z
dc.date.issued2025-01-07
dc.description.abstractSecurity token offerings (STOs) recently have gained attention as an alternative mechanism for funding. By leveraging blockchain technology, STOs facilitate the issuance of tokens that are backed by tangible assets and adhere to regulatory frameworks, presenting a more secure and regulated option than that provided by initial coin offerings (ICOs), which often operate in ambiguous legal environments. This enhanced security and regulatory compliance ensures greater investor protection and transparency. The growing adoption of STOs is driven by their potential to democratize access to capital markets and improve liquidity for assets that have traditionally been illiquid. This innovative financial instrument has the potential to affect developing countries by providing an inclusive and efficient means of gaining access to capital. Although STOs are a relatively new market and are still in the early stages of development, presenting inherent risks and challenges for future development, they show promise in the entrepreneurial finance landscape. Recognizing the rapid development and potential of STOs to introduce new methods of capital aggregation and to drive industry innovation, this primer aims to clarify the definition of STOs, outline their benefits and risks, and capture regulatory approaches and lessons from global case studies.en
dc.identifierhttp://documents.worldbank.org/curated/en/099527312172426888/IDU1097384031dbe3146e31907719ee423c9318a
dc.identifier.doi10.1596/42628
dc.identifier.urihttps://hdl.handle.net/10986/42628
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY-NC 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttps://creativecommons.org/licenses/by-nc/3.0/igo
dc.subjectECONOMIC GROWTH
dc.subjectSECURITY TOKEN OFFERINGS
dc.subjectACCESS TO CAPITAL MARKETS
dc.subjectASSET LIQUIDITY
dc.titleSecurity Token Offeringsen
dc.title.subtitleRegulatory Approaches and Lessons from Global Case Studiesen
dc.typeWorking Paper
dspace.entity.typePublication
okr.date.disclosure2025-01-07
okr.date.doiregistration2025-04-14T11:59:12.842185Z
okr.date.lastmodified2024-12-17T00:00:00Zen
okr.doctypePublications & Research::Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/099527312172426888/IDU1097384031dbe3146e31907719ee423c9318a
okr.guid099527312172426888
okr.identifier.docmidIDU-09738403-dbe3-46e3-9077-9ee423c9318a
okr.identifier.externaldocumentum34436987
okr.identifier.internaldocumentum34436987
okr.identifier.report195662
okr.import.id6235
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099527312172426888/pdf/IDU1097384031dbe3146e31907719ee423c9318a.pdfen
okr.region.geographicalWorld
okr.topicFinance and Financial Sector Development::E-Finance and E-Security
okr.topicFinance and Financial Sector Development::Currencies and Exchange Rates
okr.topicFinance and Financial Sector Development::Financial Regulation & Supervision
okr.unitWBG Technology Innovation Office (ITSTI)
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