Former FTX Europe Chief Targets U.S. Tokenized Stock Trading
- Gruhn co-founded Digital Assets AG, a Swiss tokenization firm that partnered with CM-Equity to create digital tokens linked to stocks like Tesla and Coinbase.
- Digital Assets AG was acquired by FTX Group, where Gruhn led FTX Europe until its collapse in November.
- Binance discontinued its stock token offerings in July due to regulatory scrutiny, including concerns from BaFin about the absence of a securities prospectus.
- Perpetuals reported $65.2 million in total assets and a net loss of $17.6 million for the fiscal year ending in April.
- The firm has an agreement with Datavault AI for trading infrastructure on tokenized commodities, targeting over $300 million in issuance.
Gruhn’s focus on expanding into U.S. tokenized stock trading comes as regulatory frameworks evolve, particularly following past issues with offerings lacking voting rights and proper disclosures.
The move aims to leverage Perpetuals’ expertise while addressing compliance needs highlighted by previous regulatory challenges, such as Binance’s stock tokens discontinuation amid scrutiny.(Source)
