Homburger | View firm profile
On March 5, 2025, the Swiss Shakti Foundation, a foundation (Stiftung) operating under the laws of Switzerland, established its SXE Digital SMART Note Issuance Program.
The notes issued under the SXE Digital SMART Note Issuance Program (the Notes) will be issued as ledger-based securities (Registerwertrechte) within the meaning of article 973d of the Swiss Code of Obligations.
The terms and conditions of the Notes and the applicable tokenization terms (Registrierungsvereinbarung) are governed by Swiss law.
The proceeds (after deduction of the fees, costs and expenses incurred by the Issuer in connection with such issuance) from the issuance of each tranche of Notes will, in an amount of 90%, serve as collateral for the investors and, in an amount of 10%, be used for the furtherance of the “Project”. The Project is a unique program (which was gifted by the Swiss Shakti Foundation’s founder) that addresses school participation deficits globally by utilizing a Proof-of-Effort (PoE) blockchain protocol where parents and guardians are incentivized to bring and send their children to school by receiving one native digital cryptocurrency Shakti Coin for each child, every day the child attends school.
The base prospectus for the SXE Digital SMART Note Issuance Program has been approved by the Prospectus Review Office of BX Swiss AG in its capacity as review body pursuant to article 52 of the FinSA on March 5, 2025.
The Homburger team was led by Benjamin Leisinger (Capital Markets, Financing and Investment Products) and included Lee Saladino (Capital Markets) as well as Alexander Wherlock (Financial Market Regulation, Financing and Investment Products).
Contact
Nanding Susso / Marketing / [email protected]