Renta 4 and Allfunds complete first orders of new tokenized Spanish fund
Madrid, 18th January 2022 – Allfunds Blockchain, the arm of Allfunds specialising in the creation of digital solutions for the funds industry supported by blockchain technology, and Renta 4 Banco (‘Renta 4’), a leading Spanish Bank, have successfully executed the first orders of Renta 4’s new tokenised Spanish fund within the framework of Spain’s Regulatory Sandbox initiative.
In a first for Spain’s funds industry, Renta 4’s investor clients can buy shares in the new tokenized fund through a strategic partnership which leverages Allfunds Blockchain’s dedicated funds technology, and digital custody provided by Onyze. Through this network, Renta 4 is able to offer its clients access to Smart Contracts that cover the complete operational cycle the tokenized fund: from issuance and distribution, to settlement and registration of fund participants.
Allfunds Blockchain is part of Spain’s Regulatory Sandbox initiative, which is supervised by the Spanish Securities and Exchange Commission (‘CNMV’). The project highlights the opportunity for the financial sector through greater collaboration between investment entities and regulators to develop innovative technology-based projects, and the potential for further creativity that this presents.
Rubén Nieto, Managing Director of Allfunds Blockchain, said: “Reaching this milestone is a clear demonstration of the role Allfunds plays as a leading participant in the development of Spain’s funds industry. By applying our proprietary blockchain technology to improve efficiencies in the industry, and offer new investment opportunities to market participants, we have the potential to shape the industry of the future. The age of blockchain has truly arrived.”
Miguel Jaureguízar, Digital Development Director at Renta 4, comments: “Innovation is a fundamental component of our approach to developing our offering of financial products, and especially for investment funds. In completing the first orders of our tokenized fund, we have achieved a real breakthrough in the provision of more efficient, transparent and sustainable funds for our clients. Tokenization is undoubtedly the most relevant trend in the industry; we’re proud that Renta 4 is a pioneer in its application.”
Allfunds Blockchain is part of the Allfunds Group, one of the world’s leading providers of wealthtech and fund distribution solutions for distributors and fund managers. The company has a revolutionary blockchain technology with features that have not been available on the market to date, which generates a unique environment of security, privacy and data governance among financial institutions and enables new capabilities for programming and automating processes through smart contracts.
Renta 4 Banco is the leading Spanish bank specializing in investments, wealth management, capital markets and corporate transaction advisory. It is the only investment services financial institution listed on the Spanish stock exchange market. The assets administered and managed by Renta 4 Banco exceed 26,000 million euros and more than 110,000 clients in its own network. Renta 4 Banco is present in Spain with 63 offices at street level throughout the country and is in full expansion in Latin America, where it already has offices in Peru, Colombia and Chile.
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Renta 4 Banco
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