MOBU is a decentralized turnkey security-token ICO solution for blockchain startups and investors. They are looking to “bridge the gap” between stocks and ICOs. The product gives ICO founders the tools they need to “navigate” the ICO waters across technical, legal and regulatory” requirements. MOBU is looking to invite institutional capital to the ICO market.
In a nutshell, an ICO company issues a token on the MOBU platform that becomes programmed with a code via a smart contract to recognize who is authorized to buy and sell the token. These standards are implmented at the exchange level, too.
Investors begin by verifying their identity with a KYC provider, which requires a transaction with MOBU tokens. Depending on the type of permissions a user might need, such as being an accredited investor, the requirements will vary. Once validated, the investor can trade security tokens on MOBU.
MOBU’s own MOBU token is a utility token that “conforms to the MOBU ERC20 platform and MOB20 standard.” Smart contracts are issued on Ethereum and possibly other networks. ICO companies can launch bounty promotions with the MOB token.
Other features include KYC and AML SEC compliance, bank support for token issuers to hold funds as well as bank support for investors, investor account portals and escrow accounts that let investors exit the deal if the blockchain company fails to deliver what was promised. There’s also legal support/smart contracts as well as other tools companies needs to raise funds. MOBU is promising instant/prompt trade settlement for both investors and issuers. There is also a “lockup utility” for service providers and investors.
MOBU is targeting ICO founders, who must be approved, developers, engineers, verified investors, lawyers, escrow providers and banks. The company states: “Real businesses such as property development companies, gold mines, retail companies and many more.”