Europe-based digital asset marketplace STOKR plans to establish one of the EU's first corporate bitcoin treasuries, using a significant portion of the strategic funding round it recently closed.
STOKR’s latest equity-based funding round, led by Fulgur Ventures, comprises 100 BTC ($6.78 million) and €1.2 million in cash, making a total of €7.4 million ($7.98 million). The company said in its Thursday press release that it plans to follow in the footsteps of MicroStrategy by aggressively expanding its new bitcoin treasury over the coming years
On top of the bitcoin treasury, STOKR said it aims to launch new bitcoin-based tokenized assets and build infrastructure to streamline institutional tokenization on native bitcoin Layer 2 technologies, such as the Liquid Network.
“We recognize the vast potential of asset tokenization on Bitcoin,” said Arnab Naskar, co-CEO of STOKR. “Establishing a Bitcoin treasury is a logical next step for STOKR, as a leading platform for tokenized Bitcoin derivatives.’’
Previously, STOKR has worked with bitcoin infrastructure firm Blockstream in the launch of its tokenized hashrate offering. The company said it has processed over $110 million in combined redemption and investment in 2024 alone.
STOKR also plans to transition from its current Virtual Asset Service Provider status to becoming a regulated Crypto Asset Service Provider under Europe’s new MiCA regulatory framework.
While a VASP is regulated internationally under the Financial Action Task Force, a CASP status complies with the detailed requirements set by the EU’s MiCA, according to crypto law firm Gofaizen & Sherle.
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