Germany approved security token offering based on a BTC sidechain

Syed AhadWeb Editor

22nd Sep, 2021. 08:05 pm
Germany

Financial regulators of Germany have permitted a security token offering (STO) based on a Bitcoin (BTC) sidechain.

Federal Financial Supervisory Authority of Germany (BaFin) has greenlighted the EXOeu token by game publisher Exordium, creating local retail investors appropriate to take part in the sale on Stokr, a main European digital marketplace.

German investors can invest in EXOeu through Stokr with the least amount of $100.

EXOeu is the second STO ever accepted for the German market on Stokr after BaFin permitted an STO by parking network ParkinGO the previous year.

Launched in January 2021, the EXOeu security token is increasing funds for the growth of Samson Mow’s sci-fi MMO game Infinite Fleet.

The offering has been obtainable for investors in other European states like France, Luxembourg, Spain, Portugal, raising more than $7 million to date.

Though several STOs are based on the Ethereum blockchain, the EXOeu token is issued through Blockstream Amp, a platform for tokenizing securities made on the Liquid sidechain of BTC.

“Bitcoin is shaping payments, and it’s about time it shaped capital markets — this can be done via layer two technologies,” Stokr co-founder Arnab Naskar stated, he further said that Ethereum is “losing its charm” as an STO platform due to high gas fees and the doubt about Ethereum 2.0.

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