Stobox Blockchain tokenization solution provider has announced that it will be working with Qatar based ICM Capital to raise $285 million for the biggest aqua marine shrimp farm using a security token offering (STO).

The project will introduce security token offerings for aquaculture industry utilizing Stobox’s expertise in tokenization and blockchain technology. Stobox offers Securities issuance, management, and trading on a blockchain.

Jason Jones Head of Global STO Sales Consulting & Client Project Management at Stobox, states, “Stobox will be handling the legal, technology and consulting requirements for the project.”

ICM Capital aims to raise $285 million for the development of the Shrimp Farm Project. This capital has been earmarked for scaling operations, enhancing sustainability practices, and ensuring the farm’s competitiveness on the global stage.

ICM Capital with headquarters in the UK, opened an office in Qatar as part of the firm’s expansion into the Middle East and North Africa (MENA). The multi-regulated broker gained authorization from the Qatar Financial Centre to establish a physical presence in the state.

As per Stobox announcement, through this tokenization effort, ICM Capital is not only seeking financial investment but also inviting global stakeholders to be a part of a sustainable and profitable future in aquaculture. Tokenization brings efficiency to the traditionally complex issuance of securities by leveraging blockchain technology, offering a more streamlined and technologically advanced approach to the entire process.

This comes as Qatar has moved full force into the digital assets field announcing its digital assets lab as well as upcoming digital assets regulatory framework. QFC has mentioned on several occasions that they are interested in seeing security token offerings, tokenization of real estate and more.