German financial regulators have agreed to offer Bitcoin Sidechain (BTC)-based security token (STO).

The German Federal Financial Supervisory Authority (BaFin) has given the green light to the EXOeu token by game publisher Exordium, giving local retail investors the right to participate in the sale of Stokr, Europe’s main digital market.

German investors can invest in EXOeu through Stokr with an investment of as little as $100. EXOeu is the second STO approved for the German market in Stokr after BaFin approved the STO in the ParkinGO parking network last year.

The EXOeus security token was launched in January 2021 and raised funds to develop Samson Moe’s MMO Infinite Fleet sci-fi game. The offer was available to investors from other European countries such as France, Luxembourg, Spain and Portugal, and has raised more than $7 million so far.

Although many STOs are based on the Ethereum blockchain, the EXOeu token is issued by Blockstream Amp, a token platform for securities on the Liquid Bitcoin side-chain.

“Bitcoin is shaping the payments, it’s time to shape the capital markets — that can be done with Tier 2 technologies,” said Stokr co-founder Arnab Nascar, adding that Ethereum is “losing its charm” as an STO platform due to rising gas levels. The fees and uncertainty surrounding Ethereum 2.0.

On the topic: Bitfinex launches Kazakhstan regulated security token platform

According to Stokr founder Tobias Zidl, the approval of the BaFin STO Exordium marks a new milestone in STOs across blockchain-based frontiers. “We see bitcoin as the foundation for future capital markets that will be built on blocks,” he said.

This news comes shortly after the big cryptocurrency exchange Bitfinex announced the launch of its STO trading platform with Exordium (EXO) trading last week.

Source: CoinTelegraph