{"id":1080303,"date":"2021-09-17T06:45:00","date_gmt":"2021-09-17T10:45:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/bitcoin-based-security-token-offering-approved-in-germany"},"modified":"2021-09-17T06:45:00","modified_gmt":"2021-09-17T10:45:00","slug":"bitcoin-based-security-token-offering-approved-in-germany","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/bitcoin-based-security-token-offering-approved-in-germany\/","title":{"rendered":"Bitcoin-based security token offering approved in Germany"},"content":{"rendered":"\n
German financial regulators have approved a security token offering (STO) based on a Bitcoin (BTC<\/a>) 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<\/a> by parking network ParkinGO last year.<\/p>\n Launched in January 2021<\/a>, 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<\/a>.<\/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