SAPf

EquitiesLive

Tokenized SAP SE

Tokenized SAP SE, on-chain exposure to the underlying equity.

See SAP on /markets →Underlying ticker: SAP

Key facts

Wrapped symbol
SAPf
Underlying
SAP
Asset class
Equities
Custodian
Interactive Brokers
Chains
Base, Arbitrum, Ethereum
Distribution treatment
Total return, accrued to NAV
Attestation cadence
Daily
Issuer
Flo Global Markets Ltd. (BVI)
Asset SPC
Flo Capital SPC (Cayman)
Prospectus
FMA-approved Liechtenstein base prospectus

How SAPf resolves to SAP

Each SAPf on-chain represents a unit claim on the underlying SAP SE held in a segregated brokerage account. The issuer, custodian, and prospectus are the same for every Flo token; only the underlying differs.

  1. 01

    Issuance

    Flo Global Markets Ltd. (BVI) issues SAPf under the FMA-approved Liechtenstein base prospectus, EEA-passported across 30 states.

  2. 02

    Custody

    The underlying SAP SE is held by Flo Capital SPC (Cayman) in a segregated brokerage account at Interactive Brokers, an SEC-registered broker-dealer.

  3. 03

    Settlement

    SAPf settles on-chain on Base, Arbitrum, Ethereum. Cross-chain transfers route through Chainlink CCIP.

  4. 04

    Attestation

    Reserves are attested daily by an independent auditor and published on the Flo transparency surface.

Mint SAPf with one SDK call

Every Flo-issued token shares the same six SDK methods. Mint, redeem, supply, withdraw, borrow, repay.

POST /v1/mint

{
  "asset": "SAP",
  "notional_usdc": "1000.00",
  "slippage_bps": 50,
  "settlement": {
    "currency": "USDC",
    "chain": "base"
  }
}

Where SAPf lives today

Flo distributes through partners. The same SAPf on-chain is the asset every partner integrates against; partner UIs may relabel it for their own brand.

Partner integrations in build

No live partner is distributing SAP yet. Twelve integrations are in build across exchanges, wallets, fintechs, neobanks, and asset managers. Partners are listed here only after they ship.

Audits

Four independent firms, $250K bug bounty

Sherlock, Halborn, Cantina, and Cyfrin have audited the smart contracts that issue and settle SAPf. The same contracts power every Flo-issued token; one audit covers the catalogue.

Read the audit reports →

Prospectus

FMA-approved Liechtenstein base prospectus

SAPf is issued under a base prospectus approved by the Liechtenstein Financial Market Authority and passportable across all 30 EEA states.

Open the prospectus →

Risks

SAPf carries the market risk of the underlying SAP SE, plus the structural risks common to every issuer-wrapped token: custody concentration, smart-contract risk, oracle dependency, and prospectus jurisdiction. Read the full risk section in the base prospectus before integrating or holding.