Bitcoin Sidechain–Based STO Approved by German Regulator

This marks BaFin’s first approval of a security token offering issued on the Liquid Network.

Sep 17, 2021 at 12:04 p.m. UTC
Updated Sep 19, 2021 at 5:44 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

A security token offering (STO) operating on the Bitcoin sidechain Liquid Network has been approved by Germany’s Federal Financial Supervisory Authority (BaFin).

  • Luxembourg-based video game publisher Exordium’s EXOeu token is now available to all German investors on digital asset marketplace STOKR.
  • This is the first approval of an STO issued on a Bitcoin sidechain by BaFin, Exordium announced Friday.
  • The EXOeu token, issued by tokenization platform Blockstream AMP, allows investors to buy equity in future profits of the online space strategy game Infinite Fleet.
  • The STO harnesses the Bitcoin sidechain Liquid, which enables higher transaction speed than on the cryptocurrency’s principal network.
  • Exordium has raised $7.3 million to date to date, $4.3 million of which has been since the launch of the STO in January this year.
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Jamie Crawley is a CoinDesk news reporter based in London.

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Jamie Crawley is a CoinDesk news reporter based in London.

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