German Regulator BaFin Approves First Bitcoin-Based Security Token Offering

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Germany’s financial regulator BaFin has approved the first security token offering (STO) issued on a Bitcoin sidechain via alternative asset marketplace STOKR.

STOKR, the EU’s pioneering digital marketplace for alternative assets, today announced that Germany’s financial regulator BaFin has approved the security token offering (STO) for game publisher Exordium’s EXOeu token for the German market. This makes STOKR the first security token issuance platform to have received the greenlight from BaFin to host a Bitcoin sidechain-based STO.

Exordium, the publisher of sci-fi massively multiplayer online (MMO) strategy game Infinite Fleet, has been hosting its STO on STOKR since January 2021 and raised more than US$7.3 million to date. German retail investors were previously not eligible to participate in the sale on STOKR; with the approval from BaFin, German retail investors are now immediately able to invest in EXOeu via STOKR.

The EXOeu token for the offering is issued via Blockstream AMP, a platform for the tokenization of securities built on the Liquid sidechain of Bitcoin, which has been directly integrated with STOKR.

The BaFin approval also marks another milestone, as it is one of the only approved cross-border issuances of registered securities.

“The go-ahead from BaFin for Exordium’s STO in Germany marks the beginning of a new era of cross-border blockchain-based issuances of registered securities,” STOKR co-founder Tobias Seidl commented on the developments. “We see Bitcoin as a fundamental backbone of the future capital markets, which will be built on blockchains.”

Since its establishment in 2017, STOKR has been in close communication with several European regulators to drive the financial innovation enabled by security tokens. STOKR is one of the only alternative asset marketplaces in the EU that service a broad audience of private and professional investors looking to access investment opportunities that were previously reserved for venture capital or private equity firms.

“Germany is a massive market for the gaming industry, and we’re excited to be able to now respond to demand from this market,” Infinite Fleet creator Samson Mow said. “We’re also pleased that Germany’s financial regulator recognizes the potential of the Liquid Network to host regulated security token offerings, and we look forward to seeing the future of digital securities be facilitated by Liquid.”

Interested investors who wish to participate in Exordium’s funding round can find out more on stokr.io/infinite-fleet.

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About STOKR

STOKR is the EU’s pioneering digital marketplace for alternative assets, where smart investors connect with and fund forward-thinking founders.STOKR liberates the access to high-profile investment opportunities from the inner circle of traditional venture capital. Through EU-compliant security token offerings (STOs), STOKR empowers professional and retail investors alike to directly engage with young and growing ventures in a simplified and risk-reduced environment, without the need for middlemen such as custodians or brokers. Operating out of Luxembourg, STOKR fosters a community of educated investors who participate in the future success of a diverse range of ventures through profit- or revenue-sharing rights.

About Exordium

Exordium is a video game publisher founded by a team of seasoned game industry executives. At the forefront of the convergence between online gaming and crypto assets, Exordium focuses on operating and distributing games that are innovative and socially immersive. The team behind Exordium has previously published a number of successful AAA titles.

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Vivian Cheng
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