BBVA Launches Tokenized Fund Under Regulatory Sandbox

According to PANews, Spain's second-largest bank, BBVA, has announced the launch of a tokenized fund as part of a regulatory sandbox implemented by the Spanish securities regulator CNMV. This sandbox allows participants to innovate and test new technologies under the supervision of regulatory authorities. Each project must be submitted and approved according to the evaluation and requirements established by the CNMV. The BBVA short-term fixed-income token fund will register its operations on a private blockchain provided by Allfunds, a software developer that creates decentralized solutions for third parties. BBVA Asset Management will manage and market the fund, utilizing Allfunds' network, smart contracts, and nodes specifically created for this test case. Investors will operate the fund similarly to traditional funds, thereby avoiding the complexities of decentralized operations.