Spain’s Sandbox Welcomes BBVA’s First Tokenized Fund

BBVA is launching Spain’s first blockchain-based tokenized fund through a regulatory sandbox run by the Spanish securities regulator, CNMV.

This pilot program, designed to encourage innovation under regulatory supervision, lets BBVA test decentralized technologies in a controlled setting. The bank’s Asset Management division will oversee the fund, using a private blockchain platform provided by Allfunds for streamlined operations via smart contracts. Initially, only BBVA employees will participate to minimize risk, allowing BBVA to assess the fund’s potential without impacting regular clients.

This project represents a significant step in adopting transformative technology for asset management, reinforcing BBVA’s commitment to blockchain innovation.

Clever Robot News Desk 5^th November 2024