Today Italian asset manager Azimut Group announced that its subsidiary has tokenized units in an asset backed securities fund, AZ RAIF 1. The solution used the Allfunds Blockchain as the project’s first stage to assess the efficiencies in transferring fund units between investors and Azimut Funds. BNP Paribas Securities Services is the service provider and has integrated Allfunds’ solution with its legacy systems.
In addition to efficiencies, the aim is to enable real time transparency about transactions, with the hope that tokenization will open up the funds to a wider pool of investors going forward. While this is not a native tokenization, so the conventional fund exists in Luxembourg, the plan is to trial a native blockchain-only fund going forward.
AZ RAIF 1 is an alternative investment fund where the assets that underpin the fund are non performing loans and debts of insolvent companies.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
