Sodera, a regulated trading platform based in Austria, introduced an API that allows cryptocurrency exchanges to offer tokenized financial products such as shares and government bonds without applying for their own MiFID license.
The tool is designed to connect a gap in the European market, where strict financial rules have made it difficult for crypto platforms to support tokenized securities. It allows Exchanges to integrate these offers directly into their platforms, while Modeta manages all compliance, including know-your-customs (KYC) and anti-white laundering of money laundering.
API supports over 60 tokenized securities in launch, including US government bonds, blue-chip shares and ETFs. It is also compatible with the tokens issued by supported financing and other providers. These offers are legally compatible across all 30 EU and EEA countries under Modeta’s existing licenses.
There is a waters moment in the adoption of tokenized securities. Following Backed Finance’s announcement of Xstocks – with 55+ tokenized shares and ETFs on Kraken – the race for exchanges has to offer tokenized securities to their users, Sodera said in a press release.
“This effectively smashes the two-layer system that has only allowed the biggest players (such as Robinhood, Kraken and Gemini) into a fixed-track-to-two-stock listing in Europe. With a modera, any exchange can now legally start tokenized securities for weeks instead of years, while the models handle all compliance, detention and settlement at the back,”
Sodera says it is in conversations with a number of top-20 global crypto exchanges and expects up to € 1 billion ($ 1.1 billion) in trade volume in the first year. That kind of scale could turn tokenized securities into a mainstream function at cryptoinvesting in Europe.
