The French Financial Markets Authority (AMF) has granted WPO permission to conduct an ICO, which is expected to be held from September 8 to November 12. Recall that in France, projects may not receive permission to conduct ICOs, however, only those public proposals approved by AMF can be submitted to French citizens.
WPO will sell GreenToken (GTK) - an ERC-20 standard token based on Ethereum. The cost of one GTX will be € 0.95, while the company plans to raise € 10 million. GTX can be used to purchase goods and services from WPO and GreenToken Network, a community that is actively involved in the operation and optimization of renewable energy sources.
From December 1, 2020, the token will appear on the listing of the French cryptocurrency exchange SAVITAR and on the GreenToken network.
WPO was founded 12 years ago and operates as an independent renewable energy service platform in 10 European countries. According to the company’s website, WPO has approximately 5 GW of renewable electricity in its portfolio.
Recall that in December last year, the Financial Markets Authority of France for the first time approved an application for an ICO filed by a French-ICO startup. A law defining the basic principles for initial token offerings was adopted in France in September 2018.