One major frustration for digital asset markets enthusiasts is the stubborn refusal of security token issuance to, in the famous phrase of Walt Rostow, take off into self-sustaining growth. After all, the benefits seem plain enough, and cutting the all-important cost of capital is chief among them. So what is holding issuers back? Part of the answer lies in the fact that the natural pioneers of Security Token Offerings (STOs) are smaller companies, and what looks like a big saving in issuance costs on a US$100 million issue looks much less enticing on a capital raise of US$1 or US$5 or US$10 million. The obvious solution is to make the issuance process more efficient – and that is precisely the ambition of STOmaker, a start-up which provides issuers of security tokens with a set of Software as a Service (SaaS) tools for the preparation and issuance of their offerings at a markedly lower cost. Dominic Hobson, co-founder of the Future of Finance, spoke to the co-founder of STOmaker, Evangelos Lianos, who is responsible for regulatory issues and business development.

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