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MAGNUSSON ADVISED MOTHERSHIP FOUNDATION IN AN INITIAL COIN OFFERING (ICO)

2017-10-24

Magnusson advised Mothership Foundation OÜ, an Estonian fintech company, in a successful token crowdsale. The legal side of the project was led by Magnusson’s partner Elvira Tulvik.

The Mothership Foundation raised within the initial coin offering an equivalent of USD 5 million.

A token crowdsale is a way for companies to raise funds from the interested investors, that are later used for developing new products. The tokens are a cryptocurrency traded on decentralised platforms (in this case – Ethereum) using the smart contracts technology.

Mothership Foundation develops a state-of-the-art digital asset exchange with focus on security, great customer service, and reliability. Mothership Foundation makes cryptocurrency markets accessible for global blockchain companies and individuals. Mothership financial services take advantage of Estonian e-Residency government programme to simplify identity verification.

Magnusson’s advice included drafting the legal documents such as the Terms & Conditions and Privacy Policy, as well as advice on regulatory and general legal issues. Magnusson has strong IT/IP Law, Corporate Law, Banking and Finance Law and Tax Law practices that combine perfectly to deliver legal advice in fintech projects, both in Estonia and cross-border.

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