Gubbi AG: tokenized securities from issuance to distribution

The GDX Primary Market calls itself "the central platform for the new issuance and distribution of Digital Assets". It is a brand of Gubbi Protection GmbH in Munich. The securities issued on it are tokenized securities under sections 1 to 3 of the German Electronic Securities Act, the eWpG, and therefore regulated financial instruments. For investment advice and brokerage, GDX works as a tied agent of MFC Service GmbH, which holds the licenses from BaFin, and each issue is entered in a crypto securities register run by a register keeper with its own license under the German Banking Act (KWG).

On the sales side, GDX names more than 10,000 active brokers it can reach, and it addresses banks, wealth managers, crowdfunding platforms and financial distributors. A distribution cooperation with Fondskonzept AG and DGFRP brings tokenized real-world assets to financial advisers through the channels they already use.

Since the eWpG, a German bond or fund unit no longer needs a paper certificate. It can exist as an electronic security, entered either in a central register or in a crypto securities register that runs on a blockchain. A crypto security is a normal security in legal terms, so prospectus rules, investor protection and the rules for advice and brokerage apply to it as they apply to any bond. Running a crypto securities register is a regulated activity that needs a license from BaFin.

This is why Gubbi's own site states that it does not carry out activities that need a license under the KWG itself; the licensed parts come from partners. More on how these products work is on tokenized securities, and the difference between issuing and trading is explained in primary vs secondary market.

Gubbi joined Finance Loop as a Premium Partner. Gubbi brings events and know-how on RWA tokenization, the eWpG and compliant distribution into the network, and Finance Loop members get a direct line to the Gubbi team. "What is decisive is not just the tokenization of a product, but the combination of regulatory structure, digital settlement, and functioning distribution," says Tobias Eckl, Managing Director of Gubbi Protection GmbH.

Gubbi also appears on Finance Loop's pages on tokenization in Germany, tokenized real estate and WealthTech in Frankfurt, where it builds the distribution layer between wealth platforms and tokenized products. Gubbi events and meetups in Frankfurt appear on the Finance Loop events page.

Gubbi AG is a company from Hamburg that helps banks, financial service providers and companies design, issue and sell digital assets. It offers consulting, project management and technical implementation, and it runs the GDX Primary Market through its subsidiary Gubbi Protection GmbH in Munich.

The GDX Primary Market is a platform where issuers place tokenized securities under the eWpG and sell them through banks, brokers and advisers. It is a primary market: investors buy new securities from the issuer, not from other investors on an exchange.

A crypto security is an electronic security under the eWpG that is recorded in a crypto securities register on a blockchain instead of on paper. It gives the holder the same rights as a classic bond or fund unit. Only a register keeper licensed by BaFin may run the register. The knowledge hub answer on tokenized securities explains the idea for other countries as well.