German online bank Bitbond plans to raise $3.9 million in Germany's first regulated STO

According to CoinDesk, Bitbond, an online lending bank based in blockchain technology in Germany, is launching a securities token product (STO), which is said to be the first product to be approved by a German regulator. Through the sale, the company plans to raise 3.5 million euros ($3.9 million) to support its continued lending to small businesses. Germany's Bitbond announced on Tuesday that STO will be open until July 8 for all investors except the US and Canada.