November 29, 2021

Cayman Islands, shipping and cryptocurrencies

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Ronco Metrics, a Cayman Islands based technology company, has been awarded the contract to launch an Asset backed, Securitised Token Offering (STO) in partnership with a prestigious, Greek family involved in shipping for over four generations, leveraging blockchain technology. An STO is the design and launch of a cryptocurrency token representing a real, operating business, backed by hard assets. STOs are widely considered one of the best use cases for blockchain technology.

It is apt and telling, given the Cayman Island’s maritime history, that it is a local, Caymanian company that leads the way in launching the first STO for the tokenization of bulk carrier vessels to raise US dollars 116 million with which to purchase the ships. The management and running of the fleet shall produce to the investors in the STO, highly attractive returns based on the profitability of the business and its assets.

Pantelis Lemos, the Managing Director of the ship management company comments, “Taking our traditional shipping business and using a technology designed to revolutionise how business is conducted worldwide is the perfect marriage of two worlds for our industry. Shipping is in a high growth phase now and embracing the blockchain provides us with a catalyst that will allow the family to continue trading for another four generations”.

Darrell Hines and James McGarvey, owners of Ronco Metrics both agree, “We are committed to developing transparent, dynamic and successful STO projects and to being a part of the drive in establishing the Cayman Islands as a blockchain destination of excellence in this emerging and transformative industry”.

The cryptocurrency and blockchain movement is growing and has been the centre piece in international news as it develops, grows and moves towards structured regulation. The Cayman Islands is poised to take advantage of this new era and embrace it.

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IMAGE: Ronco Metrics

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