Crypto News – Europe’s STOKR Secures €7.4 Million to Establish Bitcoin Treasury
Crypto News – Europe-based digital asset marketplace STOKR is poised to establish one of the European Union’s first corporate Bitcoin treasuries, leveraging a significant portion of its recently closed strategic funding round. The initiative marks a bold step towards integrating Bitcoin into corporate financial strategies.
Significant Funding Round
STOKR’s latest equity-based funding round, spearheaded by Fulgur Ventures, comprises 100 BTC, valued at approximately $6.78 million, along with €1.2 million in cash, bringing the total funding to €7.4 million (around $7.98 million). The company announced this strategic move in a press release on Thursday, emphasizing its ambition to expand its Bitcoin treasury aggressively, drawing inspiration from industry leader MicroStrategy.
Expansion of Bitcoin-Based Offerings
In addition to establishing the Bitcoin treasury, STOKR plans to launch new Bitcoin-based tokenized assets. The company aims to build infrastructure that facilitates institutional tokenization on native Bitcoin Layer 2 technologies, such as the Liquid Network.
Arnab Naskar, co-CEO of STOKR, remarked, “We recognize the vast potential of asset tokenization on Bitcoin. Establishing a Bitcoin treasury is a logical next step for STOKR, as a leading platform for tokenized Bitcoin derivatives.”
Previous Collaborations and Achievements
Previously, STOKR collaborated with Blockstream, a prominent Bitcoin infrastructure firm, to launch its tokenized hashrate offering. Notably, the company reported processing over $110 million in combined redemption and investment in 2024 alone, showcasing its growing influence in the digital asset space.
Regulatory Transition to CASP
STOKR also plans to transition from its current status as a Virtual Asset Service Provider (VASP) to becoming a regulated Crypto Asset Service Provider (CASP) under Europe’s new MiCA regulatory framework. While VASP status is regulated internationally under the Financial Action Task Force (FATF), a CASP designation complies with the detailed requirements set forth by the EU’s MiCA, according to the crypto law firm Gofaizen & Sherle.
FAQ
What is STOKR planning to establish in the EU?
STOKR plans to establish one of the EU’s first corporate Bitcoin treasuries, utilizing a significant portion of its recent funding.
How much funding did STOKR secure?
STOKR secured a total of €7.4 million (approximately $7.98 million), which includes 100 BTC valued at $6.78 million and €1.2 million in cash.
Who led STOKR’s latest funding round?
The latest funding round was led by Fulgur Ventures.
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