NextGen Day

MANILA, Philippines — SeedIn Technology, Inc. and Eastern Securities Development Corporation have been granted permission by the Securities and Exchange Commission (SEC) to act as crowdfunding intermediaries and operate crowdfunding portals, providing more funding options to the country’s small, medium, and emerging enterprises (SME).

The Commission en banc approved SeedIn Technology and Eastern Securities’ petitions for registration as crowdfunding intermediaries on February 23, subject to the companies’ compliance with certain outstanding requirements.

SeedIn Technology is a company that specializes in seeding

SeedIn Technology was granted a permanent license rather than a one-year provisional license by the commission.

The company’s operations, on the other hand, will be closely scrutinized by the SEC’s Markets and Securities Regulation Department for the next year.

SeedIn is a debt-based crowdfunding platform that allows all types of investors to lend to Philippine-based SME borrowers, including retail investors, accredited investors, and institutional investors.

The company’s platform connects debt issuers with registered investors, who must have a bank account with a licensed Philippine financial institution to participate.

SeedIn Technology’s platform allows investors to lend money using funds from an overseas bank account, subject to all applicable laws, including foreign exchange limitations.

SeedIn Technology is majority-owned by SeedIn Technology Holding Pte. Ltd., a Singapore-based company that primarily provides management consulting services.

Eastern Securities is a company that specializes in financial

Instead of a one-year provisional license, Eastern Securities received a permanent license from the commission.

The SEC will monitor the company’s operations on a regular basis, and the commission may seek operational data from the company during the first two years of existence at any time.

Round One Platform, which will be the first equity-based crowdfunding platform licensed in the Philippines, will be operated by Eastern Securities, a properly registered stock brokerage.

Issuer-users can utilize the platform to start and run fundraising campaigns, while investor-users can contribute investible cash to those initiatives.

Through Round One, potential issuers must supply Eastern Securities with the offering’s specifics, including the share price, total fundraising aim, and total equity offered, among other things.

Prospective investors can look through the site’s list of active campaigns.

The commission’s decision to issue crowdfunding intermediaries and funding portals permanent licenses is part of its attempt to promote crowdfunding as a safe and sustainable investment option for Filipino investors, as well as to provide more fundraising choices for the country’s small businesses.

Crowdfunding activities that are based on lending or equity entail the sale of securities such as debentures or shares, which are subject to securities legislation in many jurisdictions.

In the Philippines, Section 8 of Republic Act 8799, or The Securities Regulation Code, states that securities may not be sold, offered for sale, or distributed unless they have been registered with the Securities and Exchange Commission (SEC).

However, if the issuer, intermediary, and investors follow SEC Memorandum Circular No. 14, series of 2019, or the rules and regulations regulating crowdfunding, crowdfunding securities may be exempt from registration.

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---