Share this article
Bitcoin Sidechain–Based STO Approved by German Regulator
This marks BaFin’s first approval of a security token offering issued on the Liquid Network.
Updated May 11, 2023, 6:01 p.m. Published Sep 17, 2021, 12:04 p.m.
Make us preferred on Google
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.
Read more: German Crypto Startups Welcome $415B ‘Spezialfonds’ Law, Even if the Impact Is Small So Far
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Circle faces first major 'threat' for institutional dollars from Tether’s USAT
While Circle's USDC has operated without a "credible domestic competitor," Tether's USAT has the potential to shake up the landscape, analysts said.
What to know:
- Analysts said USAT, the U.S.-focused stablecoin by Tether, could become the first credible domestic competitor to Circle's USDC token.
- USAT is "a threat to USDC" and could gain an edge through institutional partners and global USDT connectivity, Crypto is Macro Now's Noelle Acheson said.
- ClearStreet's Owen Lau called USAT “a manageable risk” for Circle, and noted potential "cannibalization" risk between Tether's two tokens.
Top Stories
