Taiwan’s Cathay Securities approved for STOs!

Cathay Securities, a securities firm based in Taiwan, has received regulatory approval to launch the Security Token Offering (STO) business. It is the first securities firm in Taiwan to be granted such approval. The first STO by the firm will be a green electricity 6-year debt STO, which will offer an annual interest rate of 3.5%. The STO is expected to raise around US$1.86 million. With the approval, Cathay Securities expects to expand its digital or block-chain-related businesses. This development is expected to create new opportunities for investors and boost the securities market in Taiwan.