European asset manager Azimut has issued a blockchain-based digital security linked to a portfolio of €5 million ($6m) in loans to SMEs. The Azimut tokens were issued via Desygnate, the digital asset issuance platform from Swiss bank Sygnum.
Azimut has €70 billion ($83bn) in AUM and a market capitalization of €2.7 billion ($3.2bn). The asset manager cited the benefits of digital securities as greater liquidity owing to ease of transfer, the ability to fractionalize ownership, increased transparency, and a reduction in costs.
It sees tokenization as the “democratization” of investing because fractionalization means assets not usually available to private clients can now be purchased. Apart from private clients, the tokens will be sold to alternate credit funds.
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