Question 1

How can a business raise capital against a real asset without a bank loan?

Accepted Answer

By tokenizing the asset. The asset (property, an energy installation, equipment, a receivables book) goes into its own SPV, and investors buy tokenized shares in that SPV rather than in the operating company. The business keeps ownership and control and usually keeps running the asset under a management agreement, while investors receive the asset's cash flow. The process runs in five steps: scoping (is it fundable, which jurisdiction, which structure), structuring the SPV, compliance (the tokenized shares are securities and are handled under securities law, usually with no licence of the business's own needed), tokenization itself, and placement with investors. End to end it typically takes 3 to 6 months.

Question 2

What does it cost to tokenize an asset and raise capital?

Accepted Answer

Three layers. One-off setup typically runs 1.5 to 5 percent of the raise (legal, SPV formation, offering documents, platform, valuation, advisory). Annual running cost is roughly 0.2 to 0.6 percent a year for a plain SPV. The largest cost is the yield paid to investors, which sits above senior bank debt and below equity. On the advisory side the engagement is transparent: a fixed scoping fee of about €15,000 to €20,000 over 4 to 6 weeks that ends in a plan or an honest no-go, a build retainer from €8,000 a month, and a success fee of 1 to 3 percent of the capital that actually lands.

Question 3

What is the minimum size for a tokenized capital raise?

Accepted Answer

The economics get comfortable from about €3M, backed by an asset or contracted cash flow worth roughly €5M or more, and there is no upper limit: a €10M, €30M, or larger raise is usually easier to place than a small one, because the fixed costs shrink as a share of the total. Between €1M and €3M a raise can still work when the business is running and more raises are planned, but the fixed setup costs take a heavy share and that trade-off should be understood upfront. Below €1M it is genuinely not worth structuring; the setup costs eat the raise no matter how good the asset is.

Question 4

How long does a tokenized capital raise take?

Accepted Answer

Typically 3 to 6 months from decision to capital in the account. Scoping takes 4 to 6 weeks, structuring and compliance 4 to 8 weeks (overlapping), the tokenization itself takes days once the legal documents close, and placement is the most variable stage, from weeks to a few months depending on the deal and the offered terms. A business with clean title, organised financials, and clear operating data moves fastest.

Question 5

Does the business keep control of the company and the asset?

Accepted Answer

Yes. Investors buy tokenized interests in the SPV that holds the asset, not shares in the operating company. The business keeps ownership and control of its company, and in most structures continues operating the asset under a management agreement. Investors receive the agreed economics of the asset, not board seats or a say in the business.

Question 6

Who is Daniil Kozin?

Accepted Answer

Daniil Kozin is a tokenization advisor who helps European real-economy businesses raise capital against real assets. He structures the tokenized SPV, handles the compliance path, and runs the investor placement end to end, drawing on networks from twelve years in finance. Background: twelve years in finance, including a $2B brokerage desk at a tier-one institutional bank, and founder of EasyMM (200+ token projects served, $1M+ ARR, bootstrapped). He also writes the RWA Roast, an independent due-diligence series on tokenization projects.

Banks fund half of what your asset is worth. Let's raise against all of it.

This works for a specific kind of business.

A real asset.

Worth roughly €5M or more.

A raise of €3M and up.

From your asset to money in the account, in five steps.

Scoping.

Structure.

Compliance.

Tokenize.

Placement.

Would your asset fund? Three questions.

Honest reviews and market analysis.

DTCC processed its first live tokenized trade. Ethereum's privacy team spun out the same week to chase the same banks.

Robinhood Chain did $877 million in a day. Almost all of it was a cat coin.

pmUSD broke its dollar peg in April. It still hasn't recovered.

The playbook, written down.

What does it cost to tokenize a real asset? The full 2026 cost stack.

How a business raises capital through tokenization: the structure, the timeline, the cost.

Tokenization vs bank debt vs VC equity: how to fund the raise.

Or just talk to me.