German financial regulators have approved a\u00a0security token offering (STO) based on a Bitcoin (BTC) sidechain.<\/p>\n
Germany\u2019s Federal Financial Supervisory Authority (BaFin) has greenlighted the EXOeu token by game publisher Exordium, making local retail investors eligible to participate in the sale on Stokr, a major European digital marketplace.<\/p>\n
German investors can invest in EXOeu via Stokr with a minimum investment amount of $100. EXOeu is the second STO ever approved for the German market on Stokr after BaFin approved an STO by parking network ParkinGO last year.<\/p>\n
Launched in January 2021, the EXOeu security token is raising funds for the development of Samson Mow\u2019s sci-fi MMO game Infinite Fleet. The offering has been available for investors in other European countries lik France, Luxembourg, Spain, Portugal, raising more than $7 million to date.<\/p>\n
While many STOs are based on the Ethereum blockchain, the EXOeu token is issued via Blockstream Amp, a platform for tokenizing securities built on the Liquid sidechain of Bitcoin.<\/p>\n
\u201cBitcoin is shaping payments, and it\u2019s about time it shaped capital markets \u2014 this can be done via layer two technologies,\u201d Stokr co-founder Arnab Naskar said, adding that Ethereum is \u201closing its charm\u201d as an STO platform due to high gas fees and the uncertainty around Ethereum 2.0.<\/p>\n