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Sonic Labs Secures $200M Token Issuance for US Market Expansion
Sonic Labs Secures $200M Token Issuance for US Market Expansion
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BTCCSquare news:
Sonic Labs has achieved near-unanimous community approval to issue $200 million worth of its native S tokens, marking a strategic push into US capital markets. The MOVE aims to bridge blockchain with traditional finance, with 99.99% of participating wallets endorsing the proposal.
The allocation includes $100 million to back a Nasdaq-listed PIPE vehicle and $50 million for a token-tracking ETP. Sonic is establishing Sonic USA LLC, a New York-based entity, to lead its traditional finance integration and modernize tokenomics. The ETP will be issued by a regulated ETF provider overseeing $10 billion in assets, with BitGo serving as custodian.
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