Spain’s Second-Largest Bank BBVA to Launch Tokenized Fund in the Country’s Regulatory Sandbox

Odaily News BBVA, the second largest bank in Spain, announced that it will launch a tokenized fund as part of the regulatory sandbox implemented by the Spanish securities regulator CNMV. This sandbox allows participants to innovate and try new technologies under the supervision of the regulator. Each project must be submitted and passed according to the evaluation and requirements established by the CNMV. The BBVA Short-Term Fixed Income Token Fund will register its operations in a private blockchain provided by Allfunds, a software developer that develops decentralized solutions for third parties. BBVA Asset Management will serve as the manager and marketer of the fund, using Allfund's network, smart contracts and nodes created specifically for this test case. Investors will operate the fund like a traditional fund, freeing it from the complexity of decentralized operations. (Bitcoin.com)