The Stellar Development Foundation is investing in Cashlink, the German company responsible for some of the highest profile European tokenization issuances. Germany’s Electronic Securities Act (eWpG) allows DLT-based issuances of so-called crypto securities to use a registrar rather than a central securities depository (CSD), and Cashlink is the country’s most prolific registrar. It has two licenses, the second one as a crypto custodian.
To date most of Cashlink’s notable issuances have used the Polygon blockchain, although the registrar has always said it is not tied to a single chain. Those issuances have included tokenized funds for Metzler, multiple bond issuances for KfW (with more planned), as well as single bonds for Helaba’s WIBank and NRW.BANK, the development bank of North Rhine-Westphalia. To date it has supported more than 300 issuances and transaction volumes have reached €850 million.
“With the Stellar network’s global reach and our regulatory licenses in Europe, we are creating an interoperable ecosystem that will serve 20 million investors by the end of this year.” said Michael Duttlinger, CEO and Co-founder of Cashlink.
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