The German stock regulator has approved an STO for retail investors at the gaming company Exordium, which will be held on the Liquid Bitcoin sidechain.
According to an article in the Exordium blog, the Luxembourg-based video game publisher has received approval from the German Federal Financial Supervision Authority (BaFin) to sell EXOeu token shares on the STOKR digital asset market to German retail investors.
EXOeu share tokens are traded on the Liquid Network. As stated by Exordium, BaFin has agreed to conduct an STO on the Bitcoin sidechain for the first time. EXOeu uses the Blockstream AMP tokenization platform, which allows share tokens to be issued on Liquid. Share token holders will be able to receive a share of the profits of the Infinite Fleet online game.
Exordium has already raised $ 7.3 million from EXO token sales in other jurisdictions. German investors can invest from $ 100 in EXOeu through STOKR. According to STOKR co-founder Tobias Seidl, the BaFin STO Exordium endorsement marks a new milestone in cross-border blockchain STOs.
“We see Bitcoin as the fundamental foundation of future capital markets that will run on blockchains,” he said.
While many STOs are running on the Ethereum blockchain, STOKR co-founder Arnab Naskar believes Exordium has made the right choice in favor of the Liquid sidechain. “Bitcoin is changing the payments landscape and it’s time to shape capital markets — this can be done with tier 2 solutions,” he said. According to Nascar, Ethereum is “losing its charm” as a platform for STOs due to high network fees and uncertainty surrounding the launch of Ethereum 2.0.
Recall that this spring, BaFin issued an official warning about Binance’s “suspicion of violating” German securities regulation laws in connection with trading stock tokens on the exchange.
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