STOKR, a digital asset marketplace based in Europe, has successfully raised $7.98 million in a recent funding round.
STOKR, a digital asset marketplace based in Europe, has successfully raised $7.98 million in a recent funding round, with a significant portion allocated to establishing a corporate Bitcoin treasury.
This initiative positions STOKR to become one of the first companies in the European Union to adopt such a strategy, similar to that of MicroStrategy.
The funding round, led by Fulgur Ventures, consists of 100 BTC valued at approximately $6.78 million, along with €1.2 million in cash, totaling €7.4 million ($7.98 million). The company announced its plans in a press release, stating its intention to expand its Bitcoin treasury aggressively in the coming years.
In addition to the treasury, STOKR aims to introduce new Bitcoin-based tokenized assets and enhance its infrastructure for institutional tokenization on native Bitcoin layer-2 technologies, including the Liquid Network.
Arnab Naskar, co-CEO of STOKR, highlighted the potential of asset tokenization on Bitcoin, emphasizing that the treasury is a logical progression for the platform.
Previously, STOKR collaborated with Blockstream, a Bitcoin infrastructure firm, to launch its tokenized hashrate offering. The company has reported processing over $110 million in combined redemptions and investments in 2024 alone.
Furthermore, STOKR plans to transition from its current status as a Virtual Asset Service Provider (VASP) to a regulated Crypto Asset Service Provider (CASP) under the European Union's new MiCA regulatory framework.
This shift will align STOKR with the EU’s detailed requirements, as outlined by the crypto law firm Gofaizen & Sherle. The transition from VASP to CASP signifies a commitment to enhanced regulatory compliance within the evolving crypto landscape.
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