Bitcoin Sidechain–Based STO Approved by German Regulator

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

By Jamie Crawley

Sep 17, 2021 at 12:04 p.m. UTC

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

The token operates on Bitcoin sidechain Liquid Network. (Gumenyuk Dmitriy/Shutterstock)

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

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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