Token City

What Token City does

Token City is a Spanish FinTech founded in December 2020 by the Adventurees Group that operates a CNMV-authorized blockchain platform for issuing, managing, and trading tokenized financial assets. Operating under the EU DLT Pilot Regime and Spain's LMVSI framework as an authorized ERIR (Entity Responsible for Investment Records), the company provides end-to-end infrastructure covering issuance, fractionalization, custody, and settlement of tokenized securities. Its client base spans companies seeking alternative financing, financial institutions wanting to tokenize assets, and investors seeking access to alternative assets, with notable enterprise customers including Bestinver Securities (Acciona Group), Equito App, Armatura Capital, Grupo OTESA, and MARV Projects.

The product portfolio is modular and includes the core Token City Platform, a white-label issuance solution (MaaS), a Web3 API for smart contract deployment, ERIR-compliant registrar infrastructure, and the forthcoming Token City Exchange for secondary market trading. The company operates regulated subsidiaries including Alius Capital (CNMV-licensed tokenized crowdfunding) and the Token City Exchange (pending full launch). Technology integrations include ECB TARGET Services via the Pontes program, MangoPay for payments, and Metamask for wallet connectivity. The company has powered 100+ tokenized assets, including Spain's first tokenized real estate company (Arca Habitatum Capital) and first mortgage-backed tokenized bond (Grupo OTESA).

Revenue is generated through a combination of subscription/recurring fees (platform/SaaS access), transaction fees (token issuance, custody, transfer), exchange trading fees (from the regulated exchange), and white-label licensing fees (MaaS). Pricing is quote-based in Euros with multi-year enterprise contracts, distributed through a sales-led GTM motion combining dedicated enterprise field sales, self-serve platform access for smaller clients, white-label partnerships, and event-driven thought leadership (Token City Show, Andersen Sessions). The company raised seed funding in June 2023 from Core Angels Madrid and Cysae.

Name

Token City

Legal name

Token City, S.L.

Website

https://token-city.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

Token City is a Spanish FinTech operating a CNMV-authorized blockchain platform for issuing, managing, and trading tokenized financial assets. It serves companies, financial institutions, and investors with modular infrastructure including white-label issuance, Web3 APIs, ERIR registrar services, and a regulated exchange.

Ownership category

akta.pro rank

Product category

Asset Tokenization Platform

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Tokenized Securities & Capital Markets (Equity, Debt, Funds) (FSADAEAA)

akta.pro secondary industries

Tokenized Securities & Capital Markets Infrastructure (equities, bonds, funds, ATS/MTF connectivity) (FSAPAIAD), Transfer Agent, Cap Table & Token Lifecycle Management (registrar, corporate actions, burns/mints) (FSAPAIAF)

Keywords

• Asset tokenization platform
• Blockchain financial infrastructure
• Tokenized securities issuance
• Digital asset management
• Regulated tokenization software

Headquarters

HQ city

Madrid

HQ country

Spain

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Platform/SaaS Fees: Token City generates revenue through its technology platform providing issuance, management, and trading infrastructure for tokenized assets. Clients pay for access to the tailored platform, API services, and registrar infrastructure.
2. Token Issuance Fees: Revenue from facilitating the issuance of tokenized securities, including fractionalization, custody, and transfer services for assets such as unlisted company shares, corporate debt, credit portfolios, and alternative investments.
3. Exchange Trading Fees: Revenue from the regulated Token City Exchange providing secondary market trading of tokenized securities.
4. White-Label Platform Licensing: Custom branded platform (MaaS) licensing fees for organizations wanting to operate their own tokenized asset issuance under their brand.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Token City provides blockchain-based technological infrastructure and regulatory compliance for issuing, managing, and trading tokenized assets. The platform enables companies to tokenize financial assets (real estate, debt, equity, alternative investments), financial institutions to manage tokenized portfolios under CNMV authorization, and investors to access tokenized alternative investments through a regulated framework under the EU DLT Pilot Regime and Spanish LMVSI.

Product overview

Token City is a blockchain-based digital asset management platform that provides a modular ecosystem of products for tokenizing, issuing, managing, and trading tokenized assets. The core Token City Platform serves as the main interface for asset tokenization, while specialized modules extend functionality: the Custom Branded Platform (MaaS) offers white-label issuance capabilities, the Token City API provides Web3/blockchain infrastructure for smart contract deployment, and the Registrar Infrastructure (ERIR) handles regulatory-compliant registration and record-keeping. The Token City Exchange enables regulated secondary market trading, supported by the Global Marketplace for discovering investment opportunities. The ecosystem is complemented by Alius Capital, a regulated crowdfunding arm. Together, these products provide end-to-end infrastructure from tokenization through regulated distribution and trading, with regulatory compliance built throughout.

Differentiator

Problem solved

Functional benefit

Brands

• Alius Capital: Regulated tokenized crowdfunding platform operated as part of the Token City ecosystem
• Token City Exchange
• TC Show
• The Token Club

Products and services

• Token City Platform Main blockchain-based digital asset management platform enabling companies to tokenize financial assets (unlisted shares, corporate debt, credit portfolios, alternative investments), create wallets, and discover tokenized investment opportunities. Provides regulatory-compliant infrastructure for issuing, managing, and trading tokenized assets under CNMV authorization.
• Custom Branded Platform (MaaS) Fully customized issuance and tokenized asset management platform delivered under the customer's own brand. Enables companies to raise funds through tokenized securities with full legal compliance and provide their investors with unique, more liquid assets.
• Token City API (Blockchain Service - Web3 API) Web3 API enabling clients to deploy smart contracts and gain full blockchain capabilities directly from their user interface. Provides the technological backbone for issuing, managing, and trading tokenized assets on blockchain.
• Registrar Infrastructure (ERIR) CNMV-authorized registrar infrastructure providing tokenized asset registration and record-keeping functionality compliant with Spanish ERIR requirements. Enables integration of regulatory-compliant registration, fractionalization, custody, and transmission services for unlisted shares, corporate debt, credit portfolios, and alternative investments.
• Token City Exchange Regulated tokenized securities exchange enabling listing of assets on regulated market infrastructure. Provides full lifecycle management of tokenized assets including issuance, fractionalization, custody, transfer, and secondary market trading for professional and retail investors.
• Alius Capital Regulated tokenized crowdfunding platform licensed by Spain's CNMV, providing publicly accessible business financing combined with blockchain technology. Enables companies to raise funds from professional and retail investors through tokenized offerings with simplified onboarding and full regulatory compliance.

Quantifiable outcome

• Arca Habitatum Capital became Spain's first tokenized real estate company with cost-efficient structure
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Bestinver Securities (Acciona Group)coreStrategic or Co-development Partner · 22 May 2026Bestinver Securities, the capital markets and financial analysis division of Spanish group Bestinver (owned by Acciona), partnered with Token City following CNMV authorization to operate as an ERIR (Entity Responsible for Investment Records). The partnership enables full lifecycle management of tokenized assets: issuance, fractionalization, custody, and transmission of unlisted company shares, corporate debt, credit portfolios, and alternative investments.
• Equito AppcoreStrategic or Co-development PartnerEquito App uses Token City's infrastructure to create compliant, on-chain P2P markets with global reach and greater operational efficiency. By increasing liquidity options for real-world assets, it strengthens the investment experience offered through Equito.
• Alius CapitalcoreChannel Partner/ Reseller/ DistributorAlius Capital is the regulated crowdfunding arm of Token City group, licensed by CNMV. It provides accessible tokenized business financing combining publicly accessible investment opportunities with blockchain technology, modernizing investment distribution and management.
• Armatura Capital / Arca Habitatum CapitalcoreOthersArmatura Capital created Arca Habitatum Capital through Token City's platform - Spain's first tokenized real estate company, incorporated as a fully tokenized public limited company from day one, achieving cost-efficient vehicle that lowers barriers and improves return on capital for investors.
• Grupo OTESAcoreOthersGrupo OTESA completed Spain's first mortgage-backed tokenized bond issuance in just three weeks using Token City's technological infrastructure and regulated distribution channel through Alius Capital.
• MARV ProjectsminorOthersMARV Projects uses Token City's SaaS platform to offer clients various types of financial offerings, manage projects and users from the control panel, and automate blockchain-based transactions.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Polymath: Polymath is a tokenization platform providing infrastructure for issuing security tokens with built-in compliance. It is comparable to Token City in offering regulated security token issuance technology, though it has shifted focus toward middleware and is more developer-oriented.
• Securitize: Securitize is a US-headquartered tokenization platform providing end-to-end issuance, compliance, and transfer agent services for security tokens. It is a direct competitor to Token City in regulated tokenized securities infrastructure, with overlapping product sets including DS protocol and Securitize Markets.
• ADDX: ADDX operates a regulated private market exchange for tokenized securities, primarily serving Asia. Like Token City, it provides end-to-end infrastructure for issuance and trading of fractionalized private market assets under regulatory oversight, though its regulatory base is Singapore rather than Spain.
• tZERO: tZERO operates a regulated alternative trading system (ATS) for tokenized securities in the US. It is a direct peer to Token City Exchange as both offer regulated secondary market infrastructure for tokenized assets, though tZERO focuses on US markets while Token City focuses on Spain and Europe.
• Taurus SA: Taurus is a Swiss-based digital asset infrastructure provider offering tokenization, custody, and trading services to European financial institutions. It is comparable to Token City in its regulated European positioning, full-stack offering, and focus on bank and asset manager clients.
• Tokeny: Tokeny is a Luxembourg-based enterprise tokenization platform offering white-label infrastructure for issuing, managing, and transferring compliant security tokens. Like Token City, it operates under European regulatory frameworks and targets the same institutional client base of issuers, asset managers, and financial institutions.

Emerging players

• RealT: RealT is a US-based platform for tokenized real estate, allowing fractional ownership of US rental properties via ERC-20 tokens. It is comparable to Token City in addressing the real estate tokenization use case, though focused on US single-family and multi-family residential rather than European commercial.
• 21X: 21X is a Frankfurt-based blockchain securities exchange operating under the EU DLT Pilot Regime. It competes with Token City Exchange as a regulated European trading venue for tokenized securities under the same EU regulatory framework.
• Swarm Markets: Swarm Markets is a German-regulated platform offering tokenized stocks, ETFs, and other securities. While smaller and more focused on retail access than Token City, it competes for similar European issuers and operates under EU regulatory frameworks with comparable regulated infrastructure.
• Centrifuge: Centrifuge is a decentralized protocol for tokenizing real-world assets, particularly invoices and credit. While more protocol-focused than Token City's regulated platform approach, it competes in the same tokenized private credit space and represents an alternative architecture.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCxR2keB6eL_c6q7p1X3V8HQ
• Xx.com/token_city

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors2 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 Token City