Axiology, one of just six licensed EU DLT Pilot Regime firms, has hosted the issuance of a €3.4 million digital bond for Gesons, a company owned by Lithuanian Shark Tank investor Gediminas Kvietkauskas, with the bond secured by shares in companies owned by Kvietkauskas and Gesons. It was distributed via local crowdfunding platform Profitus, which is expanding its offerings from real estate to include digital bonds.
This meets a key goal of Axiology founder and CEO Marius Jurgilas. He is keen to play a role in funneling investment funds from retail and crypto investors into SMEs, bridging crowdfunding and the conventional bond market which has large issuance requirements. In the case of this digital bond, the investment minimum is just €500. Crowdfunding platforms have the investors, and Axiology provides the infrastructure and regulatory umbrella, with its license as both a multilateral trading facility and settlement system. It uses a private version of the XRP Ledger for its registry.
“Distributed ledger technology is dissolving the structural barriers that have kept fixed income the preserve of a narrow set of institutions, and reshaping who gets to participate in financing the real economy,” said Jurgilas. “This issuance is an early glimpse of that future.” Axiology has also collaborated with other crowdfunding platforms for similar issuances including LetsInvest and Bondea, which have both been involved in distributing digital bonds.
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