According to Cointelegraph, Polygon will host Assetera, Europe’s first regulated blockchain-based secondary market. Assetera is regulated by the Austrian Financial Market Authority and will deploy internally developed smart contracts on the blockchain.

Assetera will offer tokenized financial instruments such as transferable securities, money market instruments, fund units and derivatives, as well as tokenized real-world assets such as real estate and art, to retail, professional and institutional clients.

Assetera will use stablecoins for purchases, clearing and settlement directly on the Polygon network, enabling 24/7 trading through atomic swaps. CEO Thomas Labenbacher said this provides unprecedented liquidity and accessibility for asset owners and investors.

Assetera supports both custodial and non-custodial wallets and is introducing bank-managed wallets. It works with Sumsub, Chainalysis, and Fireblocks for anti-money laundering measures.

Assetera has a MiFID II license and a VASP license. MiFID II does not define financial instruments, but provides examples, leaving the details up to each country. ESMA published a consultation paper on the definition of financial instruments in April.

MiCA’s regulations on stablecoins came into effect on July 1, leading to an immediate market cleanup, with non-compliant stablecoin sales blocked in Europe and new compliant stablecoins emerging.