BBVA Asset Management Introduces ‘Tokenized’ Fund Via CNMV Regulatory Sandbox
In Brief
BBVA Asset Management has launched the BBVA Token Renta Fija Corto Plazo pilot fund, advancing blockchain adoption in asset management.
Investment division of the BBVA Group, BBVA Asset Management (AM), announced the launch of a pilot project to apply blockchain technology to asset management. This includes the registration of a tokenized short-term fixed-income investment fund within the Spanish National Securities Market Commission’s (CNMV) regulatory sandbox.
“The project is a big step towards the adoption of a technology with immense transformative potential in asset management,” said Belén Blanco, CEO of BBVA Asset Management Europe, in a written statement. “Starting out in a controlled and regulated environment will enable BBVA AM to explore the benefits in a secure and scalable way,” he added.
The pilot fund, named BBVA Token Renta Fija Corto Plazo, will have its units registered and maintained on a private blockchain—the Allfunds Blockchain network. BBVA AM is set to serve as both fund manager and promoter, relying on this network, smart contracts and nodes raised in the Allfunds Blockchain network to process orders.
BBVA AM’s Pilot Fund To Test Operations, Exploring Benefits Of Blockchain For Asset Management Applications
For investors, the experience will closely mirror that of a traditional fund, with subscription and redemption orders run and saved on the blockchain without impacting the usual investment experience. Presently, the fund, as a pilot, is not open to public trading and is exclusively available to employees of the fund manager, enabling BBVA AM to explore the feasibility and advantages of blockchain for asset management applications.
BBVA AM holds a strong market presence in Spain, Mexico, and Latin America, overseeing assets exceeding €76 billion. Its portfolio includes a wide array of products across key asset classes and investment strategies. Last year, BBVA AM’s Swiss branch collaborated with Ripple-owned Metaco to expand its digital asset offerings by integrating the latest version of Metaco’s Harmonize platform. The bank utilizes Metaco’s services through a Software-as-a-Service (SaaS) model.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
