The American company Securitize started tokenizing shares of the Spanish real estate investment fund Mancipi Partners under the supervision of European regulators. Trading in tokenized assets in the secondary market may begin in September.
Asset tokenization company Securitize announced the issuance of the first tokenized shares in Spain. The tokens issued on the Avalanche blockchain represent shares in Mancipi Partners, Spain’s real estate investment trust.
Securitize is the first company to issue tokenized assets simultaneously in the U.S. and Europe. The initiative was approved by the European Securities and Markets Authority (ESMA) back in March and must undergo a six-month pilot testing period in a ring-fenced environment before the National Securities Market Commission (CNMV) grants authorization to enter secondary markets. Trading in the assets is expected to begin in September.
Participants of the European financial market are actively exploring the possibility of asset tokenization. Thus, Italy launched the blockchain project Institutional DeFi for Security Token for these purposes, and the largest banks in Sweden, France, and Liechtenstein developed the platform so|bond for trading in tokenized bonds. In the United Kingdom, tokenization is recognized as the most important innovation for the development of the financial sector.
