German regulators approves STOs on Bitcoin sidechain based token

Germany seems eager to allow digitisation in the offerings. The financial regulators of the country give approval for the Bitcoin-based EXOeu token.

EXOeu token is a Digital token which is based on the side chain of the Bitcoin network. This token got approval to operate the sales in Germany by the financial regulatory authority, Germany’s Federal Financial Supervisory Authority (BaFin).

All the retail traders can participate in the STOs of the EXOeu token with the minimum amount of $100. It will be the second STO of Germany which is based on the blockchain technology based STO. 

EXOeu token will remain available at the  major European digital marketplace, Stokr. While it was parked at the ParkinGo network in the last year. 

This token was launched in January 2021. After that time, the team behind this token is raising funds for the development work on Samson Mow’s sci-fi MMO game Infinite Fleet. In the present time, a total of $7 million has been raised. Offerings for this token are available in France, Luxembourg, Spain, Portugal.

In the past, Many STO Offerings were based on the Ethereum blockchain based tokens but this time eXOeu is based on the Blockstream Amp, a platform for tokenizing securities built on the Liquid sidechain of Bitcoin.

Arnab Naskar, co-founder of Stokr stated 

“Bitcoin is shaping payments, and it’s about time it shaped capital markets — this can be done via layer two technologies”

According to Tobias Seidl, Co-founder of Stokr, such approval for the Bitcoin and Ethereum based STOs by BaFin, gives potential for the offerings to be made available in the foreign regions. 

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