TechFlow news, November 4 — According to Bitcoin.com News, BBVA, Spain's second-largest bank, recently announced it will launch a tokenized fund pilot within the regulatory sandbox of Spain’s securities regulator CNMV. The fund will operate on a private blockchain provided by Allfunds and will be accessible exclusively to BBVA employees, aiming to explore the advantages of blockchain technology in asset management.
BBVA Asset Management will oversee the fund’s management and marketing, leveraging Allfunds’ network, smart contracts, and dedicated nodes. Despite being built on blockchain technology, investors will interact with the fund in the same way as with traditional funds, minimizing the barrier to entry.
Belen Blanco, CEO of BBVA Asset Management Europe, said the project represents an important step in exploring the transformative potential of blockchain in asset management within a controlled and regulated environment. BBVA previously announced plans to launch a euro-linked stablecoin in partnership with Visa next year.
