Zurich, November 2023
A team of CMS Switzerland and CMS Luxembourg, lead by partner Matthias Kuert, advised Float Finance AB, Stockholm, Sweden, on legal and tax aspects of a tokenized debt instrument issued under Swiss law by a Luxembourg Special Purpose Vehicle. The instrument labelled FLOAT1 is one of Europe's first private debt asset tokens, and a great example of a tokenized financial instrument issued under the landmark Swiss DLT legal framework. The FLOAT1 token offers investors access to a diversified portfolio of private SME loans to European SaaS and technology businesses.
Float worked together with banking partner Sygnum Bank AG, Zurich, Switzerland, and senior lender, Fasanara Capital Ltd, London, England (one of Europe's largest FinTech credit funds), to tokenize and issue the debt instrument within a fully regulated environment. By way of the FLOAT1 token, Float brings illiquid real-world financial assets onto the Polygon Labs blockchain to make them accessible to investors and tradeable.
Float, Sygnum Bank, Fasanara Capital and CMS closely collaborated to make the issuance of the FLOAT1 token happen. The CMS team consisted of the following professionals:
CMS Switzerland
- Dr Matthias Kuert, Lead Partner, Capital Markets / Fintech & Blockchain
- Tina Balzli, Partner, Fintech & Blockchain
- Dr Ferdinand Blezinger, Senior Associate, Corporate / M&A
- Alina Fancelli, Associate, Capital Markets
- Mark Cagienard, Partner, Tax
- Dr David Schuler, Senior Associate, Tax
CMS Luxembourg
- Aurélien Hollard, Partner, Investment Funds
- Georgios Kortesis, Managing Associate, Capital Markets & Blockchain
- José Juan Ocaña, Senior Associate, Capital Markets & Blockchain
- Stamatina Stylianopoulou, Associate, Capital Markets & Blockchain
- Frédéric Feyten, Managing Partner and Partner, Tax
- Alejandro Domínguez Becerra, Senior Counsel, Tax
- Sarah Lemaire, Managing Associate, Tax
- Vicente Chapa, Associate, Tax
