Kriptown Raises €4.2 Million to Launch European SME Blockchain Exchange

Kriptown Secures €4.2 Million in Series A Funding for European Blockchain Securities Exchange

In a significant move for the blockchain and financial sectors, the French blockchain securities trading platform Kriptown has successfully completed a €4.2 million Series A funding round. This funding initiative was led by notable institutions including BNP Paribas, Bpifrance, and Centilux Family Office. With this round, both BNP Paribas and Bpifrance have become shareholders in the rapidly evolving company.

Funding Utilization: Establishing a DLT-based European Securities Exchange

The newly acquired funds will play a crucial role in Kriptown's plans to establish a European securities exchange dedicated to small and medium-sized enterprises (SMEs). This initiative falls under the European DLT pilot regime and aims to create innovative financial markets utilizing blockchain technology.

Application for DLT TSS License

Further solidifying its commitment to operate within the blockchain framework, Kriptown has also submitted an official application for a DLT TSS (Trading and Settlement System) license. This application was directed to the French Prudential Supervision and Resolution Authority (ACPR) and aims to ensure compliance under the regulations of the European DLT pilot regime.

Implications for SMEs and Blockchain Technology

This shift toward a blockchain-based market structure is not just a trend; it reflects a growing recognition of the potential benefits that such technology can offer to SMEs. By facilitating access to capital and investor markets, Kriptown aims to democratize financial services and empower smaller businesses in France and beyond.

Conclusion

The completion of the €4.2 million Series A funding round marks a pivotal moment for Kriptown and the broader blockchain securities landscape in Europe. As it progresses towards launching its blockchain-driven exchange, the company stands to transform how SMEs engage with capital markets, promoting transparency and efficiency.

For more updates on blockchain innovation and securities trading, stay tuned to relevant financial news platforms.