27 September 2021

Digital securities: Taylor Wessing advises Stokr on first-time approval of a securities information sheet for the public offering of a security token on the Liquid Blockchain

The German Federal Financial Supervisory Authority (BaFin) has for the first time permitted the publication of a securities information sheet (Wertpapier-Informationsblatt) in connection with a public offering of a security token issued on the Liquid Blockchain - a sidechain of Bitcoin. This means that the security tokens may be publicly offered in Germany as part of a security token offering by the game publisher Exordium. Frankfurt partner Ulrich Reers of the international law firm Taylor Wessing, together with Alireza Siadat, partner of the law firm Annerton, which specialises in banking supervisory law, advised Stokr during the authorisation procedure at BaFin.

 

Stokr is one of the leading digital marketplaces for alternative investments in Europe, offering ready to use solutions for small and medium-sized enterprises to access funds in compliance with EU capital markets legislation. At the same time, the authorisation by BaFin enables for the first time a public offering of an investment product issued in Luxembourg through a cross-border issuance of tokenised securities.

 

Legal advisers to Stokr

 

Taylor Wessing Germany: Ulrich Reers (Partner, capital markets, Frankfurt)

 

Annerton: Alireza Siadat (Partner, banking supervision law, Frankfurt)

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