SecureTech forms joint venture with QSTAK to tokenize real-world assets
SCTH•SecureTech Innovations formed QSTAK Market with Piranha Blockchain, QSTAK Holding and Craft Capital Management to tokenize real-world assets using QSTAKCHAIN. License consideration totals up to $22 million in Series B Preferred Stock, including $6 million earned at closing; SecureTech also acquired a net 15% stake in QSTAK Holding for $4.5 million in Series A Preferred Stock.
1. Joint venture terms
QSTAK Market will use QSTAKCHAIN to tokenize real-world assets. Piranha Blockchain owns 57% of the venture, QSTAK Holding holds 38%, and Craft Capital Management owns 5%; the venture received a royalty-free sublicense to QSTAK technologies under its parent’s perpetual, exclusive, worldwide license.
2. License and investment
License consideration totals up to $22 million in Series B Preferred Stock, with $6 million earned at closing and remaining payments based on milestones. Separately, SecureTech acquired a net 15% stake in QSTAK Holding for $4.5 million in Series A Preferred Stock.
