Global law firm White & Case LLP has advised SC STEELCOIN GmbH, a company of the Austrian Frankstahl Group, on the expansion of its product portfolio to include a steel exchange-traded product (ETP).
The company previously created the Steelcoin A token – the world's first security token that puts real steel on the Ethereum blockchain and available to investors. With the newly created Steelcoin ETP, the company now offers investors an exchange-traded product with which investors can participate indirectly in the price development of steel products.
Steelcoin ETPs can be traded via traditional stock exchange trading on the open market of the Ba-den-Württemberg Stock Exchange. Investors also can redeem their Steelcoin ETPs for cash with the company twice a year.
SC STEELCOIN GmbH was founded in 2022 with the aim of turning steel into an investment through an innovative product portfolio.
The White & Case team in Frankfurt that advised on the transaction was led by partner Karsten Wöckener and associate Daniel Sander.
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