Spain's second-largest bank BBVA will launch a tokenized fund in the country's regulatory sandbox

ChainCatcher news, according to Bitcoin.com, Spain's second-largest bank BBVA has announced the launch of a tokenized fund as part of the regulatory sandbox implemented by Spain's securities regulator CNMV. This sandbox allows participants to innovate and experiment with new technologies under the supervision of the regulatory authority. Each project must be submitted and approved according to the assessments and requirements established by 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 act as the manager and marketer of the fund, utilizing Allfund's network, smart contracts, and nodes specifically created for this test case. Investors will operate the fund like a traditional fund, thereby removing the complexities of decentralized operations.