Financial lawmakers in Germany have reportedly granted regulatory greenlight to a security token offering (STO) built upon a Bitcoin (BTC) sidechain.

Specifically, Germany’s Federal Financial Supervisory Authority (BaFin) has reportedly issued its approval for the EXOeu token designed by game publisher Exordium, providing the legitimacy for retail investors in the area to take part in the sale on Stokr, a high-profile European digital marketplace.

Germany-based investors reportedly have the ability to make investments in EXOeu through Stokr, with the lowest investment sum allowed is $100. 

EXOeu is the second STO throughout history to successfully secure a greenlight for operating in the German market on Stokr, following the previous go-ahead issued for an STO by parking network ParkinGO from BaFin in 2020. 

Established in January this year, the EXOeu security token is reportedly doing fundraising for the design of Samson Mow’s sci-fi MMO game Infinite Fleet. 

The offering has reportedly been introduced to investors in different nations across the EU regions already, nominally France, Luxembourg, Spain, Portugal, successfully acquiring over $7 million to date.

While a variety of STOs are operating across the Ethereum blockchain, the issuance of the EXOeu token is completed via the Blockstream Amp, a platform dedicated to carry out the tokenization of  securities built on the Liquid sidechain of Bitcoin.

“Bitcoin is shaping payments, and it’s about time it shaped capital markets — this can be done via layer two technologies” Stokr co-founder Arnab Naskar reportedly remarked.