Germany“One of the pioneering firms in web3 solutions, digital assets and tokenization, recognized for its innovation and solid reputation across Spain and Latin America.”
Jorge CorredorLawyer, Rincón Cuéllar & Asociados
Asset tokenization in Germany
We build the platform to tokenize bonds, registered shares and revenue rights in Germany: investor onboarding, ERC-3643 tokens and integration with the eWpG crypto securities register, coordinated with the law firm that structures the issuance and the entity that keeps the register.
Tokenize your asset
They trust Metlabs to tokenize their assets
Why Germany
Why tokenize assets in Germany?
Since June 2021, Germany has allowed bonds to be issued without a paper certificate, recorded in an electronic register, and since December 2023 registered shares as well. A bond or a share recorded in a crypto securities register has the same effect as a paper certificate, and keeping that register is a financial service supervised by BaFin.
2021
year of the Electronic Securities Act (eWpG), which allows bonds recorded in a crypto securities register
gesetze-im-internet.de · eWpGWhat gets tokenized
Debt, equity and revenue: what gets tokenized in Germany
Almost every tokenized issuance represents one of these three rights against the issuer. The right determines the vehicle, the applicable law and who keeps the register, and it is settled before the network or the token standard.
| Right | Debt | Equity | Revenue |
|---|---|---|---|
| What is issued | Bearer bonds | Registered shares | Revenue rights |
| The investor receives | The investor lends to the issuer and receives interest and, at maturity, the principal. | The investor joins the share capital: dividends, voting rights and a share of any sale or liquidation. | The investor receives a share of the income from an asset: rents, energy sold, sales or royalties. |
| The token enforces |
|
|
|
| Issuer | AG or GmbH | AG only | AG or GmbH |
| Register | Crypto securities register (eWpG) | Crypto securities register (eWpG) | Crypto register if a security |
| Law | eWpG and BGB (§ 793) | eWpG, as amended by the ZuFinG | eWpG or VermAnlG |
| How it is issued | The issuer replaces the paper certificate with an entry in an electronic register, and the bond has the same effect as a certificated one. In a crypto securities register, the register is kept by whoever the issuer designates, or by the issuer itself if it designates no one. | Since December 2023, an AG can issue registered shares as electronic securities, including in a crypto securities register; bearer shares can only go into a central register. GmbH shares fall outside the eWpG, and their transfer requires a notarized agreement. | If it takes the form of a bearer bond with a share in income, it is a security and can be issued under the eWpG. If it is a profit-participating or subordinated loan, or a participation right not embodied in a security, it is an investment product under the VermAnlG, with its own offer rules. |
Regulation
Regulation guide for GermanyWhich regulation applies to tokenization in Germany?
It depends on the right the token represents. A bond or a share is a financial instrument: it is issued under the eWpG, its public offer follows the EU Prospectus Regulation and the WpPG, and BaFin supervises the firms that provide the services. MiCA, which Germany applies through its KMAG act, covers crypto-assets that are not financial instruments.
The eWpG distinguishes two registers. A central register is kept by a central securities depository or by a custodian authorized in writing by the issuer. A crypto securities register must run on a tamper-proof recording system that logs data in time sequence, and it is kept by whoever the issuer designates; keeping it is a financial service under the KWG that requires BaFin authorization.
To reach investors, the WpPG no longer sets its own threshold: an offeror relying on the EU prospectus exemption must first file a Wertpapier-Informationsblatt (securities information sheet) with BaFin and publish it once BaFin approves. Revenue rights that are not securities follow the VermAnlG. We coordinate the structure with specialist law firms, and authorized entities provide the regulated services.
Germany
FavourableScore100
- Scope
- European Union
- Authorities
- BaFin, Deutsche Bundesbank
- Latest regulatory change
- Jul 2026
Applicable frameworks
| Framework | Applies to | Key authorisations |
|---|---|---|
| MiCA · KMAG | Crypto-assets and CASP services | CASP authorisation or Article 60 route |
| eWpG · KWG | Electronic securities, custody and registers | Permission according to activity and security type |
Our legal partners
Methodology
How we tokenize an asset in Germany, step by step
The four phases of our methodology, with the parties involved in Germany. The law firm and our engineering team work in parallel from the asset review to investor acquisition.
We review the asset's title, encumbrances and cash flows, and decide with the issuer whether the token will be debt, shares or a revenue right. That sets the vehicle, an AG or a GmbH, the amount and whether the right fits the eWpG or the VermAnlG.
The law firm classifies the token, drafts the terms of issue that the register entry refers to and chooses the offer route: prospectus, Wertpapier-Informationsblatt or crowdfunding platform. The issuer designates the entity that will keep the crypto securities register.
We configure the white label platform with your brand: investor onboarding with KYC, signature, payment and ERC-3643 tokens carrying the offer's rules. Integration with the crypto securities register and coupon or dividend schedules are custom development.
With the issuer and, where there is one, the placing entity, we prepare the offer page and measure the journey to a paid subscription. After the issuance, the platform handles distributions, transfers between verified investors and reporting.
Milestones
Tokenization milestones in Germany
The dates that opened electronic securities issuance and crypto-asset services in Germany, taken from our regulation guide. Each milestone links to its source.
See the full timelineThe eWpG enters into force
The Act dated 3 June takes effect on 10 June. It initially introduces electronic issuance for bearer bonds; current categories reflect subsequent amendments.
eWpG · Commencement noteFirst German crypto custody permission
BaFin grants Coinbase Germany the first permission for the then-new custody activity. This is a national framework milestone, not an early MiCA authorisation.
Bundestag · Government responseMiCA applies to service providers
The European provider regime and national supervisory framework apply. Services must fall within the relevant authorisation or notification.
MiCA · Article 149
Reviews in Germany
What do our clients think of Metlabs?
“We structured the tokenization of real estate projects with them, and I value the team's ability to understand our corporate needs and genuinely solve them.”
Joan MejíaManager, GLOBYNE
“They advised us on the feasibility of tokenizing real estate assets in Uruguay with direct, cordial treatment. A professional team, responsive and always available.”
Álvaro Silva SantamaríaCEO, Sp Inmuebles
“Great professionals at structuring tokenized projects, with technical command and attention to detail that inspire full confidence at every stage of the work.”
Francisco BetancourtVerified Google review
“As a blockchain lawyer, I value their experience and professionalism in consulting and executing tokenization projects. Technology partners you can fully trust.”
Vanessa RivasBlockchain lawyer, El Salvador
“Great professionals, very attentive to their clients and always mindful of every detail. Working with their team has been a genuine pleasure from start to finish.”
CriptorentVerified Google review
“A very professional yet approachable company that empathizes with your doubts and needs. Highly recommended for entrepreneurs with a tokenization project.”
Javier EspasaTokenization entrepreneur
“Exceptional in every sense. From legal support I value their rigor and transparency: working with Metlabs means professionalism, innovation and security.”
Pedro A. Agúndez MéndezGoogle Local Guide
“Excellent service across blockchain development, asset tokenization and consulting. A very professional team that I recommend wholeheartedly, without reservation.”
José Luis DíazVerified Google review
“I have worked with them on several projects and they are very professional. A guarantee that everything turns out perfectly. Without a doubt, 100% recommended.”
Ignacio Fernández JiménezVerified Google review
“One of the pioneering firms in web3 solutions, digital assets and tokenization, recognized for its innovation and solid reputation across Spain and Latin America.”
Jorge CorredorLawyer, Rincón Cuéllar & Asociados
“Great professionals at structuring tokenized projects, with technical command and attention to detail that inspire full confidence at every stage of the work.”
Francisco BetancourtVerified Google review
“A very professional yet approachable company that empathizes with your doubts and needs. Highly recommended for entrepreneurs with a tokenization project.”
Javier EspasaTokenization entrepreneur
“I have worked with them on several projects and they are very professional. A guarantee that everything turns out perfectly. Without a doubt, 100% recommended.”
Ignacio Fernández JiménezVerified Google review
“We structured the tokenization of real estate projects with them, and I value the team's ability to understand our corporate needs and genuinely solve them.”
Joan MejíaManager, GLOBYNE
“As a blockchain lawyer, I value their experience and professionalism in consulting and executing tokenization projects. Technology partners you can fully trust.”
Vanessa RivasBlockchain lawyer, El Salvador
“Exceptional in every sense. From legal support I value their rigor and transparency: working with Metlabs means professionalism, innovation and security.”
Pedro A. Agúndez MéndezGoogle Local Guide
“They advised us on the feasibility of tokenizing real estate assets in Uruguay with direct, cordial treatment. A professional team, responsive and always available.”
Álvaro Silva SantamaríaCEO, Sp Inmuebles
“Great professionals, very attentive to their clients and always mindful of every detail. Working with their team has been a genuine pleasure from start to finish.”
CriptorentVerified Google review
“Excellent service across blockchain development, asset tokenization and consulting. A very professional team that I recommend wholeheartedly, without reservation.”
José Luis DíazVerified Google review
Platform
What does our white label tokenization platform include in Germany?
The investor portal, ERC-3643 tokens and issuer console, under your brand. Out of the box it handles onboarding, signing, payment and distributions; anything else your issuance needs, such as a local payment method or a connection to your bank or custodian, we build on the same platform.
Request a demo
- Your brand and domainYour visual identity and legal notices across the investor portal.
- Investor onboardingSign-up, KYC with Personalausweis or passport, KYB, GwG checks and a custodial wallet.
- End-to-end investmentE-signature and payment in euros by SEPA Instant or with stablecoin (USDC/EURC).
- ERC-3643 tokensEach token is issued with the offer's rules and connected to the eWpG register.
- Issuer consoleProjects, investors, euro reconciliation, interest payments and reporting.
- Compliance and audit trailKYC and GwG file for each investor, and an exportable audit log.
Institutional custody, integrated
We integrate custody and key management providers through their APIs, including Fireblocks, BitGo, Coinbase Prime, Anchorage Digital, Copper and Ledger Enterprise. Depending on the provider and model, keys are managed with MPC or multisig so that none depends on a single device. If the token is a security, custody on behalf of clients is provided by an authorized entity.
FAQ
Frequently asked questions about tokenization in Germany
What we are asked before a project starts.
Talk to our teamIs asset tokenization legal in Germany?
Yes. The eWpG has allowed bearer bonds to be issued as electronic securities since 2021, and registered shares since 2023, recorded in a central register or a crypto securities register, with the same effect as a paper certificate. Keeping the crypto securities register, custody and placing the issuance are activities BaFin supervises.
Can GmbH shares be tokenized?
Not under the eWpG, which only covers bearer bonds and shares. Transferring GmbH shares requires a notarized agreement, so the token cannot be the share itself. A GmbH can issue tokenized bonds, or convert into an AG to issue electronic registered shares.
What document does an offer without a prospectus need in Germany?
An offeror relying on the EU prospectus exemption must prepare a Wertpapier-Informationsblatt, file it with BaFin and publish it only once BaFin approves; BaFin replies within ten business days. Among other cases, it is not needed for offers below €100,000 over 12 months. The law firm confirms the route for each offer.
Does the token give ownership of the property?
Not by itself. Transferring real estate in Germany requires a conveyance agreement before a notary and an entry in the land register. The token represents a right against the issuer, usually the owning company: a bond, a registered share or a right to its income.
Asset tokenization
Assets we tokenize in Germany.
Asset tokenization
Articles on tokenization
MiFID II and tokenization: classification, services and limits
MiFID II and tokens: financial instrument classification, investment services and the distinction from MiCA before designing an issuance.
Real Asset Tokenization: How RWA Tokenization Works
How to structure an RWA project: holder rights, issuance, recordkeeping, payments and recovery. What blockchain adds and what depends on the legal arrangement.
OpenZeppelin and ERC-3643: how a security token is built
What OpenZeppelin libraries and ERC-3643 controls provide, and what a securities issuance also requires: rights, permissions, operations and review.
Tokenize your asset in Germany
Tell us which right you want to issue and we will propose the technical structure, timeline and phased budget.
Where we are
We're your tokenization company in:
Metlabs Offices
Av. García Sabell, 1, Edificio Proa 15009 A Coruña, Spain
We tokenize assets in
SpainUnited StatesUAEUnited KingdomMexicoSingaporeAustraliaSwitzerlandColombiaArgentinaChilePeruPortugalHong KongBrazilEcuadorFranceIndiaPanamaAndorraAustriaBahrainBelgiumBoliviaCanadaCosta RicaCubaCyprusCzechiaDenmarkDominican RepublicEl SalvadorEstoniaFinlandGreeceGuatemalaHondurasHungaryIrelandIsraelItalyJapanKuwaitLiechtensteinLithuaniaLuxembourgMaltaMonacoMoroccoNetherlandsNew ZealandNicaraguaNigeriaNorwayOmanParaguayPolandPuerto RicoQatarRomaniaSan MarinoSaudi ArabiaSeychellesSouth AfricaSouth KoreaSwedenTurkeyUruguayVenezuela
