STO Service 

In addition to operating STO real estate fund, Reliquidity is also engaged in consulting business in the field of STO REITs, providing a series of solutions including project planning, legal advisors, accounting advisors, fundraising, and sales.

What We Provide

ReLiquidity help customers understand whether their projects/ companies/ assets are suitable for fundraising under the STO model, and whether they can expand their business and optimize performance by combining their business and blockchain technology after fundraising

ReLiquidity cooperate with multiple well-knowN international law firms and together will provide our customer a total legal solution, which include legal consulting, company structure design and building, SEC compliance, KYC/AML etc., to help our customer complete the compliance process and legally tokenized their assets.

In our capital service, ReLiquidity will help our customer to connect to well-known international blockchain platform, institute, and retail investors, and successfully issue their security token and listed on the ATS platform.

After our customer listed their security token on the ATS platform, ReLiquidity will assist our customer for value maintenance, increase the liquidity, distribution, etc., to protect our customer’s assets with the least cost and circulate in secondary market successfully.

Real Estate + Fund + Technology

ReLiquidity combines the three dimensions of “Fund”, “Real Estate” and “Technology” to create a new concept of “Real Estate Securities Token Fund” and upgrade the liquidity of real estate again.

With Cayman exempted limited partnership (ELP) and real estate fund structure, investors’ assets are secured and protected. 

Targeting at fixed income project, lower the risk of the investment.

With innovative blockchain technology and security token, the fund is regulated and transparent

Real Estate Securities Token Fund

Real Estate as a Service

ReLiquidity focus on real estate related project, help our customer tokenized their asset and been circulated in the market.

STO Regulation

All the security token we issued is followed and approved by SEC regulations, e.g. Reg. D,Reg. S.

Security Token as Certificate

ReLiquidity replaces the beneficiary certificates with security tokens with cryptocurrency’s features, including but not limited DLT, trading, and smart contract dividends



Lowering the entry barrier of real estate investment, leading more investor to enter the real estate market.


With features of cryptocurrency, Real Estate Securities Token Fund can be raised quickly in primary market and higher circulated in secondary market.

Cost Reduction

With STO, asset can be securities with lower cost than traditional method such as IPO.

Global Market

Real estate investment is no longer limited to reginal investment, and tokenized asset can be circulated in varies market globally in the same time.

Blockchain and Smart Contract

By the technology of blockchain and smart contract, the investors’ assets can be more secure and efficient.

Investment Management

  • Information
  • Location
  • Rate

Fund Financial statement

  • Financial statements
  • ROI
  • Project status

Security Token management

  • Vote
  • Digital Wallet

ATS Exchange API

  • Sale/Buy Security Token

Personal information management

  • Register/ Login

What is STO?
What is REITs?

STO is the acronym of Security Token Offering.  Although the definition of securities varies from jurisdiction to jurisdiction, the well-known U.S. Howey Test provides a foundation for general understanding and functional test as to whether an investment is in fact a security and thus subject to the U.S. securities laws.  Once the issuance of cryptocurrency meets the elements of the Howey Test, the fundraising will be recognized as an STO, and the relevant securities laws and regulations should be followed. 


For a long time, the real estate industry has been seeking ways to vitalize real estate transactions.  Modeled after mutual funds and asset securitization, REITs pool the capital of numerous investors.  This makes it possible for individual investors to participate in the real estate market without having to buy, manage, or finance any properties themselves.  However, there are some restrictions.  The emergence of STO will bring more possibilities to the real estate industry.  If REITs “securitize” real estate, then STO will further “tokenize” real estate.


  • Financial Institution Supervision  
  • Legal beneficiary certificates  
  • Beneficiary certificates share
  • 受益憑證流動性
  • 最低申購金額 依各基金設定
  • 配息制度 依各基金設定,
  • 投資人退場機制 透明
  • 財務透明度 定期公布


  • Financial Institution Supervision  
  • Legal beneficiary certificates  
  • Beneficiary certificates token
  • 受益憑證流動性 中高
  • 最低申購金額 依各基金設定
  • 配息制度 依各基金設定,
  • 投資人退場機制 透明但限制較少
  • 財務透明度 定期公布,且可透過


  • 是否有金融主管機關監管  
  • 憑證是否有實體權益支撐  
  • 憑證流通性 share
  • 受益憑證流動性
  • 投資人退場機制 不透明
  • 財務透明度 不一定公布


  • 是否有金融主管機關監管  
  • 憑證是否有實體權益支撐  
  • 憑證流通性 token
  • 受益憑證流動性 中高
  • 投資人退場機制 透明
  • 財務透明度 需合格會計師簽核,

Category of STO

  • Regulation Reg. D504
  • Investor 美國
  • Investor restrict 無限制
  • Maximum Capital Raise Amount 500萬美元
  • Lock-up period 閉鎖期內有
  • Public channel publicity 不允許
  • Regulation Reg. D506(b)
  • Investor 美國
  • Investor restrict 合格投資人及至多35名
  • Maximum Capital Raise Amount
  • Lock-up period 閉鎖期內有
  • Public channel publicity 不允許
  • Regulation Reg. D506(c)
  • Investor 美國
  • Investor restrict 限合格投資人
  • Maximum Capital Raise Amount
  • Lock-up period 閉鎖期內有
  • Public channel publicity 允許
  • Regulation Reg. S
  • Investor 海外
  • Investor restrict 美國以外的投資人
  • Maximum Capital Raise Amount 無,申請RegS的同時可申請其他豁免
  • Lock-up period 有 / 無
  • Public channel publicity 允許在美國境外
  • Regulation Reg. A+
  • Investor 美國
  • Investor restrict 合格投資人及特定
  • Maximum Capital Raise Amount 12個月內
  • Lock-up period
  • Public channel publicity 允許
  • Regulation Reg. CF
  • Investor 美國
  • Investor restrict 依投資人年收入不同
  • Maximum Capital Raise Amount 12個月內
  • Lock-up period 有 / 例外無
  • Public channel publicity 不允許

STO Application Process


2 - 3 weeks

  • Blockchain technology input
  • Strategy planning
  • Business planning
  • Project scheduling

STO Planning

1 - 2 weeks

  • Compliance scheduling
  • Token structure design
  • Asset design
  • Capital raising plan design
  • Business structure design
  • Documents management 
  • KYC / AML solution 

Document preparation

2 - 4 weeks

  • Company portfolio 
  • White paper
  • Business plan
  • Term sheet 
  • Private placement memorandum 
  • SEC filling document preparation  

US Attorney review

1 - 2 month

Deliver all the materials to U.S. law firm for inspection of suitability, legality, validity and compliance of all documents whether they meet the SEC filing requirements. After confirmation, the lawyer will issue:Investors invest in the letter of intent, investment agreement, investment risk description files, etc., and then deliver all the files to the SEC.

SEC compliance

2 - 3 weeks

The SEC filings are relatively fixed, but there may be too many cases and the need to queue up. The SEC website publicly announced the name of the application and related information and the filing was successful.

Token issuing  and saleing

Long term

  • Marketing 
  • KYC / AML
  • Token sales
  • Platform ducking
  • Token issuing
  • Token Listed

Secondary Market


  • Listed on ATS
  • Market depth maintenance  
  • Crisis management 
  • Distribution management 
  • Increase of liquidity