A Spanish Company Tokenizes All Its Shares: A Historic Milestone in the Corporate World

For the first time in Spain, the company Beself Brands has carried out the tokenization of its share capital, marking an important milestone in the corporate history of the country. With over a decade of experience in e-commerce, the company has decided to migrate 100% of its shares to blockchain technology through a regulated issuance of security tokens, known as a Security Token Offering (STO).

This innovative operation uses a security token called BeToken, which represents a common share of the company. The tokens can be bought, sold, and held digitally and traceably on a blockchain, promising to modernize the way corporate investments are managed. All of this is carried out under the framework of the new Securities Market and Investment Services Law, as well as under the European regulations governing such emissions.

The tokenization has been designed to guarantee the security and transparency of the process, eliminating the need for financial intermediaries and facilitating more efficient capital management. The offering will be divided into two phases, planned for June and September of this year, thus allowing both individual and professional investors to access the company with a minimum investment. In total, 2,971,200 tokens will be available for sale.

The established governance model aims to protect the long-term value of the company. Majority shareholders will maintain their stakes for a minimum period of four years, and a liquidity fund of 500,000 euros has been created to ensure stability in the secondary market. Additionally, Beself Brands will encourage token retention by distributing 50% of its annual profits and offering bonuses to those who hold their investment for the first year.

This type of tokenization is an uncommon phenomenon in Spain and Europe, where most STOs have focused on raising funds through partial issuances or on assets other than share capital. The experience of Beself Brands could set a notable precedent for funding, governance, and legal structure for small and medium-sized enterprises, as well as startups and growing companies seeking alternatives to traditional venture capital.

Based in Tarragona, Beself Brands has developed a technological platform for the issuance and custody of the tokens, generating growing interest among various actors in the financial and technological ecosystem. Many see this movement as a potential driver for the digitization of capital markets in Spain and an opportunity to democratize business investment in the digital realm.