STOKR Raises $7.98M To Launch Its Corporate Bitcoin Treasury In Europe

An EU-based and prominent digital assets marketplace, STOKR, has declared the completion of its $7.98 million strategic funding round.

The company plans to establish one of Europe's first corporate Bitcoin treasuries with most of the funding proceeds.

This move will see STOKR accumulate BTC tokens as its primary treasury asset. STOKR also revealed its desire to imitate MicroStrategy, the prominent corporate Bitcoin adoption pioneer.

STOKR Completes its $7.98 Million Fundraising Round

In a blog post, the Luxembourg-based digital investment company announced the completion of the fundraising round. The fundraising, led by Fulgur Ventures, generated 100 BTC tokens (worth 6.2 million) and 1.2 million in cash.

The firm plans to introduce new Bitcoin-based tokenized assets into the tokenization marketplace. It will also develop the relevant infrastructure for institutions to efficiently issue tokenized securities on the Bitcoin sidechain, Liquid Network.

In addition, STOKR plans to strengthen its regulatory stance while complying with the EU's new MiCA regulations.

This move involves its meteoric transition from a Virtual Asset Service Provider (VASP) status to a regulated Crypto Asset Service Provider (CASP).

Notably, a VASP is under the regulatory oversight of the Financial Action Task Force (FATF)-however, a CASP functions according to the regulatory standards of the EU's MiCA.

Meanwhile, STOKR facilitates entrepreneurs and asset managers who want to develop or issue tokenized securities.

The company has also supported several real-world assets (RWA) projects. It collaborated with Blockstream, a Bitcoin-based infrastructure, to launch its tokenized hash-rate offering.

The project saw STOKR facilitating Blockstream's BMN1 payout, one of the biggest in the history of the RWA space. The payout involved more than 1,212 BTC tokens.

So far, in 2024, STOKR has processed more than $110 million in combined redemptions and investments involving Bitcoin-related tokenized assets.

STOKR To Imitate MicroStrategy To Develop Corporate Bitcoin Treasuries

The digital investment firm said it will imitate MicroStrategy and establish its corporate Bitcoin treasuries.

A part of its statement reads: ...STOKR plans to follow the lead of corporate Bitcoin adoption pioneerMicroStrategy (Nasdaq: MSTR) by aggressively expanding its new Bitcoin treasury over the coming years."

Further, the company's co-CEO, Arnab Naskar, noted that the fundraising round is pivotal for STOKR to expand its boundaries in asset tokenization.Moreover, the firm wants to focus on building a Bitcoin treasury to support its move.

Naskar stated: STOKR is building capital markets on top of Bitcoin. This fundraiser marks a pivotal moment for STOKR as we continue to push the boundaries of asset tokenization. Establishing a Bitcoin treasury is a logical next step for STOKR, a leading platform for tokenized Bitcoin derivatives."

MicroStrategy has distinguished itself as the pioneer in adopting Bitcoin as its primary treasury asset.

The company has continually increased its Bitcoin holdings under the leadership of pro-Bitcoin Michael Saylor, MicroStrategy's co-founder.

As of September 20, 2024, it held approximately 252,220 BTC tokens, and based on the latest report, STOKR plans to join the trend.

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