NRW1, issued by its regulated fund sponsor as legal issuer and tokenized by CASHLINK Technologies GmbH, is a tokenized fund interest issued as a crypto security recording a regulated fund share class onchain under Germany's Electronic Securities Act (eWpG) [S1][S2].

Holders receive economic exposure to the underlying fund share class, whose value tracks its net asset value (NAV) [S1]. The fund's reference holding is a corporate bond, for which automated lifecycle events such as coupon and redemption payments are executed via smart contracts with FIAT, stablecoin or central bank money cash legs [S3]. Investors with active positions are granted rights to interest payments where the underlying issuer pays them [S2].

The tokenization service provider is CASHLINK Technologies GmbH, a German limited company in Frankfurt am Main, supervised by the Federal Financial Supervisory Authority (BaFin) under a crypto securities register license (Section 32 KWG, Section 16 eWpG) and a crypto custody license [S4][S5][S2]. The tokenholder's claim is a crypto security legally equivalent to a traditional security [S2][S6]. Investing requires KYC and AML verification with PEP screening, and certain share classes are not publicly investable [S7][S1]. Transfers are permitted only to whitelisted, KYC-verified wallets [S2]. Holdings are safekept by qualified custodians supervised by BaFin, as individual or collective register entries [S7][S6].

Tokens follow the ERC-20 standard on EVM-compatible public-permissioned networks, with Ethereum, Polygon and Stellar supported [S8]. The legal issuer submits holder data and a wallet address by API; once validated, the wallet is whitelisted and the token is minted [S2]. Settlement occurs onchain via Delivery-versus-Payment and can complete at T+1 or T+0 [S3][S8].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://cashlink.de/en/tokenized-funds/" },
    { id: "S2", url: "https://cashlink.de/en/ewpg-crypto-securities/" },
    { id: "S3", url: "https://cashlink.de/en/token-based-bond/" },
    { id: "S4", url: "https://cashlink.de/en/imprint/" },
    { id: "S5", url: "https://cashlink.de/de/kwp-register-rechtliches-2/" },
    { id: "S6", url: "https://cashlink.de/en/custodian-banks/" },
    { id: "S7", url: "https://cashlink.de/en/compliance/" },
    { id: "S8", url: "https://cashlink.de/en/core/" },
  ]}
/>


Tokenized funds

website

Real-world asset (RWA) issuers

Cashlink

Cashlink NRW1 (NRW1) is a tokenized fund share issued by Cashlink through NRW.BANK.

Each token is a direct claim on the issuer.

The fund is closed-ended and invests in corporate credit in Europe.

Its transfer agent is Cashlink Technologies GmbH.

NRW1 has been issued on Polygon as an ERC-20 token since July 2025.

Cashlink NRW1NRW1

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