October 24, 2024
STOKR, a digital asset marketplace based in Europe, has announced the completion of a €7.4 million ($7.98 million) strategic funding round. The round was led by Fulgur Ventures, a prominent investor in the crypto space. The funding consists of 100 BTC, valued at $6.78 million, alongside an additional €1.2 million in cash. STOKR intends to allocate a substantial portion of this capital to create one of the first corporate bitcoin treasuries in Europe, mirroring the strategy previously adopted by MicroStrategy.
In addition to its focus on a bitcoin treasury, STOKR plans to introduce new bitcoin-based tokenized assets and infrastructure for institutional tokenization. The company aims to leverage native bitcoin Layer 2 technologies, such as the Liquid Network, to streamline this process. STOKR's history with bitcoin tokenization includes previous collaboration with Blockstream on a tokenized hashrate project, a venture that contributed to the company processing over $110 million in combined redemptions and investments in 2024.
Looking ahead, STOKR plans to transition from its current status as a Virtual Asset Service Provider (VASP) to a Crypto Asset Service Provider (CASP) under the EU's MiCA regulatory framework. This change will bring STOKR into compliance with the EU’s stricter standards for crypto asset operations, differentiating it from the broader international VASP guidelines. The company's regulatory shift aligns with its strategy to strengthen its position in the European market as a leading provider of bitcoin-based financial solutions.
About STOKR
STOKR is a digital asset marketplace specializing in tokenized securities and bitcoin-based financial products. The platform allows investors to access opportunities for asset-backed investments in a fully compliant and secure environment. STOKR’s mission is to enable innovative financial solutions by combining traditional finance with blockchain technology to offer streamlined tokenization services.
Website: https://stokr.io/
X: @stokr_io
About Investor
Fulgur Ventures
Fulgur Ventures is an investment firm focused on early-stage projects in the Bitcoin ecosystem. The company specializes in supporting businesses that utilize Bitcoin's Layer 2 solutions, particularly those that leverage technologies like the Lightning Network and Liquid Network. Based in Europe, Fulgur Ventures aims to foster the growth of a decentralized financial system built on Bitcoin.
Location: Wilmington, Delaware
Website: https://fulgur.ventures/
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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