Solutions · Advisory
Regulation is the product. We speak it fluently.
Advisory on tokenized financial products under EU law — grounded in direct dialogue with EU supervisors, not in theory.
Where the expertise comes from
We took a tokenized equity product to the Danish FSA — and did the work.
Most digital-asset ventures route around European regulation: offshore issuers, disclaimers, and hope. We did the opposite. We designed a tokenized European equity product, put the full structure in front of the supervisor, and worked through the questions that actually decide whether tokenized finance is viable in the EU.
That process — instrument classification, issuer perimeter, distribution through licensed intermediaries, custody and reserve arrangements, marketing rules — is the deepest education available in this field. It cannot be read; it has to be done. We've done it, and we now put that experience to work for institutions facing the same questions.
The result is advisory with an unusual property: everything we recommend has been pressure-tested against a real supervisor, on a real product, with real capital behind it.
Frameworks we work in.
MiFID II
When a token is a financial instrument — and what that triggers for issuance, distribution, and the exemptions that keep a structure workable.
MiCA
The EU's crypto-asset regime: where it applies, where it defers to securities law, and how asset-referenced and e-money tokens are treated.
Prospectus Regulation
Public-offer and admission triggers, exemption architecture, and how tokenized instruments fit disclosure requirements.
AIFMD / fund rules
When a token structure becomes a collective investment scheme — often the decisive (and most expensive) classification question.
DLT Pilot Regime
The EU's sandbox for DLT market infrastructure — trading and settlement of tokenized securities outside legacy plumbing.
AML / KYC & DORA
Onboarding, screening, and travel-rule obligations, plus the operational-resilience expectations that apply to digital-asset infrastructure.
How we work
From classification to code.
Classification & structure
What is your token, legally? We map the instrument against MiFID II, MiCA, prospectus, and fund rules — and design the structure that reaches your commercial goal within them. The classification decides everything downstream; we get it right first.
Regulator engagement
We prepare and run the dialogue with the supervisor: framing the questions, drafting the submissions, and pressure-testing the answers. We've done this with a European supervisor on a novel tokenized product — we know what supervisors ask, and what they need to hear.
From opinion to operation
Legal analysis that ends as a memo is only half done. We translate the regulatory design into operational requirements — eligibility gates, transfer restrictions, disclosures, reserve attestation — and, through our platform, into enforced code.
Facing the same questions?
If you're structuring a tokenized product, preparing a supervisor dialogue, or deciding whether a token is a financial instrument at all — we've been exactly where you are.