Security

German regulator approves bitcoin-based security token offering from Stokr

September 28, 2021

Stokr, a digital marketplace for alternative assets based in the EU, has received approval from Germany's financial regulator BaFin for a security token offering for the game publisher Exordium's EXOeu token. This token, which is used on the massively multiplayer game Infinite Fleet, is based via Blockstream AMP, a platform for the tokenization of securities on the Liquid sidechain of bitcoin, according to a press release.

With this development, Stokr is the first security token issuance platform to get approval from BaFin for a bitcoin side-chained based token, according to the release.

"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," Tobias Seidl, co-founder, Stokr, said in the release. "We see bitcoin as a fundamental backbone of the future capital markets, which will be built on blockchains."