Blockchain Renta 4, Onyze, and Allfunds Close With…

The first investment fund tokens were executed Blockchain Renta4, Onyze, and AllFunds Successfully completed after closing the fund. After four months of joint work within the framework of the first Spanish regulatory sandbox, the token stock funds have been liquidated and the unanimous valuation is very positive.

After the development of the project, the three entities consider that blockchain technology can bring about profound changes in the financial ecosystem by providing transparency, traceability, improved liquidity, increased automation and non-intermediation that is beneficial to investors above all but also beneficial to the actual operation of the funds.

Miguel Jureguezar, Director of Digital Development at Renta 4 Banco and President of Renta 4 Digital Assets, comments in this regard: “Innovation is a constant in our approach to financial products and especially investment funds. Through coding, we have made significant progress in developing more efficient, transparent and sustainable funds. It is undoubtedly the most relevant trend in the industry today.”

Thus, it is one of the first fully developed and successfully completed projects out of a total of 18 projects that entered the second phase of the first group. The regulatory Sandbox initiative aims to conduct the supervisory authorities-controlled tests of innovative projects and their potential impact on the Spanish financial system in order to obtain the appropriate tools and facilitate innovation in Spain.

Each of the three entities has added to the project different resources necessary for the success of this initiative; Allfunds Blockchain introduced Blockchain technology and network Essential for coding and operating mutual funds through a smart contract solution. rent 4 banks It acts as a distributor for the tokenized fund, while Renta 4 Gestora has issued a token for itself and allocates its NAV.

The project tokens custody was responsible for Onyze, Spain’s first new generation custodian of cryptocurrency. “Once again, the custodian’s role as the cornerstone of any development based on blockchain technology is confirmed,” Onyze CEO says, Angel Luis Quesada.
We hope that this project will be an essential first step and a turning point in the history of the financial system in Spain; We couldn’t have had better companions,” confirms Kisada.

As acknowledged by the CNMV in its final assessment: With the new Securities Markets and Investment Services Act, the amendment of the MiFID II directive and the application of European regulations to the pilot DLT system, new developments are expected based on this project, DLT technology in the field of funds and other investment vehicles. All to offer benefits to investors, entities and the supervisor himself.

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