Exchange listing and bank custody point to the central register. Direct subscription via a platform points to the crypto securities register. Decide before you issue.
Eight steps from structure to first subscription: choose the register, deposit the terms, settle the offering document, set up payment and registration.
Fixed costs for structuring, BaFin and the paying agent run at about EUR 37,500 to 87,500. Platform, investor administration and marketing make up the rest.
Same claim, new carrier: registration instead of a certificate, deposited terms, payment against a transfer instruction and a register choice that shapes later trading.
The bond follows the project plan: minimum volume before registration, funds released by construction progress, collateral through a trustee, repayment from sale.
After approval, filing, payment routing or investor access are often still missing. Four checks show whether your digital bond is ready for subscription.
The platform takes over tasks, not responsibility: payment, terms and conditions, the information sheet and the choice of register stay with the issuer.
Every event in a bond's term starts with the register: interest to the holder on the record date, changes only by deposit, a register change only with consent.
It depends on who you offer to: qualified investors need no prospectus, the public below EUR 12 million a securities information sheet, above that a prospectus.
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