Finoptis brings its STOK structured credit program to Assetera

Assetera, the Austrian marketplace for tokenized securities licensed and supervised by the Financial Market Authority (FMA), today announced that Finoptis Securities Sàrl has brought its STOK program to the Assetera marketplace.

Finoptis is launching a EUR 2Bn program of tokenized registered notes issued under Luxembourg securitization law, starting with the STOK series that focuses on providing inventory refinancing. Each series is issued from its own ring-fenced compartment and backed by a diversified pool of short-term European inventory finance facilities and trade receivables. In substance, it is a tokenized mid-market ABS.

The program opens with two classes of notes over the same collateral. The Senior Notes rank first and carry a 5.00% per annum coupon, paid monthly, with a layer of subordinated notes and first-loss equity absorbing losses beneath them. The Mezzanine Notes rank behind and carry an 8.00% coupon, paid monthly, taking on more risk for the higher rate. Both are issued in EUR 100 denominations and redeemable at par at their legal final maturity of 31 August 2032, subject to any delay in repayment of the underlying assets.

The notes are limited recourse: a claim runs only to its own compartment's cash flows, and any shortfall is extinguished rather than recoverable from the issuer's other assets.

The notes are tokenized using the ERC-3643 standard on Polygon and settled through FundNav. They remain registered securities, with the token as a technical representation of a holding in the register, so investor rights do not depend on the smart contract.

They are offered to eligible counterparties and professional clients only under MiFID II and are not available to retail investors in the EEA or the UK, or to US persons.

"Structured credit is harder to bring onto a venue than a fund or a treasury instrument. There's a waterfall to preserve, a legal form that has to survive the move on-chain, and a target market that has to be genuinely assessed rather than copied across. Finoptis built the structure. Our license and our review process cover the distribution."
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Thomas Labenbacher, CEO, Assetera

⁠With STOK, we're bringing fullfinancial and technical engineering (securitization structuring, riskretention, tokenized issuance) to originators and investors who havehistorically been excluded from these tools. Our belief is thatinstitutional-grade structured credit shouldn't be exclusively available forthe largest players, and Assetera gives us the distribution to make that accessreal.
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Guillaume Gauthier, CEO, Finoptis

Finoptis structures mid-market asset-backedsecurities from pools of European SME loans and tokenises the resulting tranches for distributionto investors. The notes are listed on the Luxembourg Euro MTF, with Creatrustinvolved on the structuring side. The model aims to give global investors access to European SME credit exposure in a tokenised,tradable format.

Assetera GmbH is a marketplace for tokenizedsecurities based in Vienna, licensed and supervised by the Austrian Financial Market Authority (FMA)as a MiFID II investment firm and registered as a virtual asset service provider. Asseteraprovides regulated distribution of tokenized securities to professional and eligible counterparty investors acrossthe EEA.

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Assetera: business@assetera.com
Finoptis: investor@finoptis.io

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Disclaimer.This announcement is for informationonly. It is not an offer to sell or a solicitation to buy any security, and it is not investment advice. The instruments described are available to eligible counterparties and professional clients only. Capital is atrisk.