BBVA Asset Management (BBVA AM) is planning to issue a tokenized fixed income fund as part of a Spanish sandbox. The short term BBVA Token Renta Fija Corto Plazo will be issued on the private Allfunds Blockchain. As the fund will be part of the sandbox, it is not available for outside investment, so only employees will be able to invest. BBVA AM has €110 billion ($119 bn) in assets under management.
All subscription and redemption transactions will be executed on the blockchain ‘without this affecting the investor experience’.
“The project is a big step towards the adoption of a technology with immense transformative potential in asset management, starting out in a controlled and regulated environment that will enable BBVA AM to explore the benefits in a secure and scalable way,” said Belén Blanco, CEO of BBVA Asset Management Europe.
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