Cashlink

What Cashlink does

Cashlink Technologies GmbH, founded in 2018 and headquartered in Frankfurt am Main, operates as a regulated capital markets infrastructure provider for the issuance and settlement of tokenized securities in Europe. The company holds a BaFin license (10160302) under Section 32 (1) sentence 1 KWG and Section 16 of the German Electronic Securities Act (eWpG), enabling it to maintain a crypto securities registry — a function that replaces traditional Central Securities Depository infrastructure for bonds, structured products, registered shares, and UCITS funds. Its product portfolio comprises the modular Cashlink Connect platform suite: Cashlink Connect (distribution and issuance), Cashlink Connect Core (API-driven integration), and Cashlink Connect Banking (custodian bank access), supplemented by integrated investment brokerage and qualified custody services.

The underlying technology is a multi-chain DLT stack operating across Polygon, Ethereum, and Stellar, with smart contract-based permissioning, KYC-verified wallets, and programmatic transfer rules for automated eWpG and MiCAR compliance. The platform integrates with the Deutsche Bundesbank's trigger solution for settlement without CSD and the ECB's PONTES gateway for wholesale CBDC settlement via TARGET2, enabling T+0 settlement and Delivery-versus-Payment through MiCAR-compliant stablecoins. Revenue is generated through subscription-based platform fees, registry service charges, and project-based professional services, with quote-based custom pricing targeted at enterprise financial institutions, asset managers, investment platforms, and custodian banks across Germany, Switzerland, the UK, and Luxembourg.

The company has demonstrated commercial traction through high-profile mandates including Germany's first blockchain-based digital bond with DZ BANK and KfW on Polygon (March 2026), a tokenized Ratekau Solar Park issuance on Stellar with FINEXITY and Tangany (April 2026), and partnerships with WIBank, Bankhaus Metzler, NRW.BANK, and Helaba. It is backed by venture investors including HELIAD, TX Ventures, Futury Capital, C3 Venture Capital, DEWB, and FinLab, having completed a Series A round in March 2023 with reported funding in the mid-seven-figure EUR range.

Name

Cashlink

Legal name

Cashlink Technologies GmbH

Website

https://cashlink.de

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Cashlink Technologies GmbH is a Frankfurt-based, BaFin-licensed infrastructure provider enabling European banks, asset managers, and investment platforms to issue and settle tokenized securities under the German Electronic Securities Act via multi-chain DLT technology.

Ownership category

akta.pro rank

Product category

Capital Markets Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Funds, Trusts, and Other Financial Vehicles (525)

SIC

Finance Services (6199), Asset-Backed Securities (6189)

akta.pro primary industry

Tokenized Treasury, Money Market & Cash Management Products (FSADAEAB)

akta.pro secondary industries

Tokenized Collateral & On-Chain Credit Infrastructure (Collateral Mgmt, Liquidations) (FSAGAMAK), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ), Wallet Infrastructure (SDKs, Wallet-as-a-Service) (FSADACAD)

Keywords

• Tokenized securities infrastructure
• Crypto securities registry
• Blockchain capital markets
• Digital asset issuance
• DLT settlement platform

Headquarters

HQ city

Frankfurt

HQ country

Germany

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Crypto Securities Registry Services: Cashlink generates revenue through fees charged for crypto securities registry services, including registration, modification, transfer, and lookup services for tokenized securities under their BaFin license. Pricing appears to be project-based/customized based on use case complexity.
2. Tokenization Platform Subscriptions: Revenue from SaaS-style platform access fees for Cashlink Connect, Cashlink Connect Core, and Cashlink Connect Banking products, providing infrastructure for tokenized securities issuance and distribution.
3. Professional Services: Consulting, implementation support, and project-specific services for financial institutions and asset managers adopting tokenization infrastructure, including proof-of-concept projects and workshops.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Cashlink operates a BaFin-licensed infrastructure platform for the issuance and settlement of token-based securities under the German Electronic Securities Act (eWpG). It provides financial institutions, asset managers, and investment platforms with end-to-end tokenization infrastructure — including a crypto securities registry, lifecycle management tools, and API-driven integration — supporting bonds, funds, structured products, and registered shares on multiple blockchain networks (Polygon, Ethereum, Stellar).

Product overview

Cashlink offers a modular platform architecture for tokenized securities issuance and distribution. The core offering consists of Cashlink Connect (the primary investment platform), supplemented by Cashlink Connect Core (for direct infrastructure integration) and Cashlink Connect Banking (for banking/custodian access). The company also provides integrated financial services including BaFin-licensed crypto securities registry services, investment brokerage, and custody solutions, all compliant with the German Electronic Securities Act (eWpG). The platform enables issuers and custodian banks to benefit from up to 85% cost savings along the securities value chain.

Differentiator

Problem solved

Functional benefit

Brands

• Cashlink Connect: Investment platform solution for issuance and distribution of tokenized assets.
• Cashlink Connect Core
• Cashlink Connect Banking

Products and services

• Cashlink Connect A comprehensive platform supporting investment platforms in the issuance and distribution of tokenized assets, providing eWpG-compliant tokenization infrastructure, access to distribution partners, and end-to-end lifecycle management for tokenized securities.
• Cashlink Connect Core API-driven core infrastructure module enabling financial institutions to integrate Cashlink's crypto securities infrastructure directly into their own systems for digital securities issuance and settlement.
• Cashlink Connect Banking Banking-focused module enabling financial institutions to access tokenized private market assets through integration with leading custodian banks, supporting tokenized asset distribution and depot visibility.
• Crypto Securities Registry Services BaFin-licensed crypto securities registry service (license 10160302) pursuant to Section 32 (1) sentence 1 KWG and Section 16 eWpG, enabling compliant issuance and management of tokenized securities for bonds, structured products, registered shares, and UCITS funds.
• Investment Brokerage Services Integrated investment brokerage service under § 3 (2) WpIG of the German Banking Act, enabling compliant distribution of tokenized financial instruments through regulated brokerage infrastructure.
• Custody Services Custody services delivered through qualified custodians under §64y Para. 1 KWG supervised by BaFin, providing secure storage of private keys for tokenized securities holders in a regulated environment.

Quantifiable outcome

• Up to 85% cost reduction along the securities value chain
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature8 records

Partnerships

Eight partnerships are on record, tiered core.

• FINEXITY GroupcoreStrategic or Co-development Partner · 2 April 2026Cashlink partnered with FINEXITY Group and Tangany to launch a regulated tokenized capital market infrastructure on the Stellar blockchain, supported by a grant from the Stellar Development Foundation. The collaboration deployed its system in a live scenario through a tokenized securities issuance for the Ratekau Solar Park project in Germany with a total issuance volume of up to EUR 3 million.
• TanganycoreTechnology or IntegrationCustody infrastructure provider integrated with Cashlink's tokenization platform, enabling secure storage of private keys for tokenized securities in compliance with German regulatory requirements.
• WIBank (Wirtschafts- und Infrastrukturbank Hessen)coreStrategic or Co-development PartnerCashlink supported WIBank's first blockchain-based bond issuance, demonstrating T+0 settlement capability and providing digital securities registry infrastructure. WIBank has expressed intent to expand and integrate digital issuances as part of its innovation strategy.
• DZ BANKcoreStrategic or Co-development PartnerCashlink provided digital registry services for DZ BANK and KfW's blockchain-based digital bond issuance pilot on the Polygon blockchain, the first of its kind under Germany's Electronic Securities Act.
• KfWcoreStrategic or Co-development PartnerPartner in Germany's first blockchain-based digital bond issuance under the Electronic Securities Act, with Cashlink providing digital registry services for the transaction on Polygon blockchain.
• Bankhaus MetzlercoreStrategic or Co-development PartnerTraditional German private bank included as a key partner in Cashlink's European tokenization ecosystem, representing integration of established financial institutions into digital securities infrastructure.
• NRW.BANKcoreStrategic or Co-development PartnerDevelopment bank of North Rhine-Westphalia partnered with Cashlink as part of the European ecosystem for scaling DLT-based capital markets.
• Helaba (Landesbank Hessen-Thüringen)coreStrategic or Co-development PartnerGerman Landesbank included in Cashlink's partnership ecosystem for digital securities infrastructure and DLT-based capital market development.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Bitfinex Securities: El Salvador-based regulated platform for tokenized securities issuance with EU market access. Comparable as an emerging tokenized securities venue, though operating under different regulatory regime than Cashlink.

Direct peers

• Polymath: Tokenization platform providing infrastructure for creating, issuing, and managing security tokens. Competes with Cashlink in the digital securities issuance and lifecycle management category.
• Securitize: US-based digital securities platform providing issuance, transfer, and compliance infrastructure for tokenized assets. Direct peer in the tokenized securities registry/infrastructure category with comparable focus on regulated RWA issuance.
• 21X: Frankfurt-based regulated trading and settlement platform for tokenized securities under the EU DLT Pilot Regime. Directly comparable to Cashlink as a German-regulated tokenized capital market infrastructure provider.
• Tokeny: Luxembourg-based enterprise-grade tokenization platform for issuance and lifecycle management of security tokens. Competes directly with Cashlink Connect in serving financial institutions seeking compliant security token infrastructure.
• Taurus Group: Swiss-headquartered digital asset infrastructure provider offering issuance, custody, and trading infrastructure for tokenized securities. Direct competitor to Cashlink in the European regulated tokenization space with overlapping customer base of banks and asset managers.

Others

• Polygon Labs: Ethereum scaling infrastructure on which Cashlink has executed major bond issuances (e.g., KfW/DZ BANK). Enabling infrastructure provider rather than direct competitor, but Polygon ecosystem decisions affect Cashlink's offering.

Broad incumbents

• Onyx (Kinexys) by JPMorgan: JPMorgan's institutional blockchain platform offering tokenized treasury services and DLT-based settlement. Broad incumbent in tokenized capital markets that competes for the same institutional issuer and investor relationships as Cashlink.
• Clearstream (Deutsche Boerse): European post-trade infrastructure provider and central securities depository exploring DLT-based settlement. Incumbent that Cashlink's infrastructure could displace or that could launch competing tokenization infrastructure.

Regional players

• Boerse Stuttgart Digital: German-regulated digital asset subsidiary of Boerse Stuttgart providing custody, trading, and issuance infrastructure for crypto and tokenized securities. Regional competitor to Cashlink with strong German banking relationships.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/cashlink

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds5 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cashlink