Secure funding for your blockchain project with a customized SAFT agreement

A Simple Agreement for Future Tokens (SAFT) is an investment contract used in private token sales. Accredited or institutional investors provide funding today in exchange for a right to receive tokens when the network launches. You need a SAFT whenever you want to raise capital from sophisticated investors before your tokens exist or before a public sale — it defines the economics, timeline and conditions of delivery.

Yes, SAFT agreements are used in Switzerland, but their legal validity depends on how your token is classified. FINMA distinguishes between utility, payment and asset tokens, and the classification drives which regulatory regime applies to your sale. We assess your token model first and structure the SAFT to be compliant — avoiding inadvertent securities issuance or collective-investment-scheme treatment.

Token classification under Swiss law (FINMA guidelines), EU law (MiCA) and US law (SEC Howey test) determines whether your token sale triggers financial-market regulation. A utility token sold to fund network development is treated very differently from a token that resembles a security. Getting the classification wrong exposes you and your investors to regulatory risk — we resolve this before drafting begins.

We start with a kick-off call to understand your token model, investor base, deal economics and jurisdiction requirements. We then draft a bespoke SAFT — not a generic template — covering discount rates, valuation caps, MFN clauses, token delivery mechanics and representations. After your review, we finalise and support you through investor negotiations to closing.

Yes. If you are targeting EU investors or listing your token in the EU, MiCA will apply to your token sale and potentially require a whitepaper. Our lawyers are MiCA specialists and can assess your obligations, draft the required documentation and help you navigate the transition from pre-MiCA to full MiCA compliance.

Yes. Through our New York office and US-admitted attorneys, we advise on token sales that involve US investors or US-based founders. We help structure the SAFT to address SEC concerns — including the use of Regulation D exemptions — and coordinate with Swiss and EU counsel where cross-border issues arise.

The SAFT agreement is a flat fee of CHF 3'500 (excl. VAT). It covers the kick-off call, a bespoke draft, a legal-expert review round and the final document, and is typically ready in 5–10 days.