PANews reported on November 4 that according to Bitcoin.com, Spain’s second largest bank BBVA 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 regulators. Each project must be submitted and approved in accordance with the evaluation and requirements established by the CNMV.
The BBVA Short-Term Fixed Income Token Fund will register its operations on a private blockchain provided by Allfunds, a software developer that develops decentralized solutions for third parties. BBVA Asset Management will act 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.
