Launch of the First Digital Securities Issuance Platform in the EU Supervised as A VASP
STOKR, the EU’s pioneering digital investment marketplace for alternative assets, has received VASP registration by Luxembourg financial regulator CSSF (Commission de Surveillance du Secteur Financier). STOKR is now the first digital securities issuance platform outside of the US to have exchange integrations with regulated securities trading venues, able to independently conduct Know Your Customer (KYC)/Anti-Money Laundering (AML) checks on the investors investing in digital securities. The recognition as a Virtual Asset Service Provider by the CSSF, also puts the firm on a firmer regulatory footing in Europe.
“Situated in Luxembourg, we are extremely happy having obtained the registration by one of the most experienced financial regulators in the virtual asset space. At STOKR, we will strive to facilitate enhanced processes for KYC/AML services, providing institutions, asset managers, and investors with all needed assurance to thrive in this next-generation market.”, said Tobias Seidl, co-founder of STOKR.
Becoming a VASP helps STOKR to provide financial services to market participants for the sale and offer of virtual assets. To meet the growing demand of institutional and professional investors in the digital securities market, the supervision of the regulator will ensure enhanced anti-money laundering and counter-terrorist financing processes in line with European and international law.
STOKR uses the digital KYC-management solution Digital KYC provided by Proximus, a well-reputed KYC technology provider. Digital KYC enables STOKR to onboard investors within minutes and access screening information on PEP/ sanctions, adverse media, and legal proceedings. For compliance on crypto transactions, STOKR additionally conducts Know your Transaction (KYT) checks on crypto-based investments through Scorechain, fulfilling a full suite of compliance checks meeting enhanced international standards.
“We are proud to enable a secure and fast investor onboarding and monitoring for such an innovative tokenized capital market platform. DigitalKYC, a flexible solution that includes ID-Document Verification, Liveness, 2-Factor authentication, and other KYC modules is ideal to drive investor conversion while warranting compliance. We look forward to continuing to support the promising growth prospects of STOKR from a technological angle.” Frank ROESSIG, Head Digital Trust Solutions at Proximus.
Luxembourg has historically been well known for its fund industry and has been active in adopting digitalization in the modern financial markets. This has made the country become an increasingly popular jurisdiction for serious and visionary businesses. To date, there are seven entities recognised as VASPs by CSSF, including PayPal, Bitstamp, and BitFlyer. STOKR is the only digital securities issuance platform in the EU to have VASP supervision from an EU member state, as well as exchange integrations with regulated securities trading venues, like Bitfinex Securities and Merj. The VASP approval obliges STOKR to ensure enhanced anti-money laundering and counter-terrorist financing processes in line with European and international law.
STOKR has so far supported the tokenization of over 60M US$ assets. Tokenization projects encompass Blockstream Mining Note, a debt instrument enabling investors to participate in the upside of Bitcoin mining (raised over 43M US$), and the Aquarius Fund, an alternative investment fund for tokenized assets well suited for treasurers looking for high yield return (raised over 5M US$).
ABOUT STOKR
STOKR is a seamless launchpad and a leading digital marketplace for alternative investments, connecting entrepreneurs and asset managers to next-generation professionals and retail investors. On STOKR, both institutional and retail investors can access diverse and high-quality investment opportunities and directly control their alternative assets. As a Luxembourg Virtual Assets Service Provider, STOKR offers turn-key solutions for young and growing ventures looking to raise capital in the EU through all elements of institutional-grade asset tokenisation, including sophisticated investment structuring, smart contract management, AML/KYC verification, payment rails (crypto and fiat), and the full life-cycle management of digital securities.
