Securitize enters European market with real estate tokenisation in Spain

The Securitize platform issued security tokens on the shares of the Spanish real estate fund Mancipi Partners on the Avalanche blockchain. The Block reports.

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Secondary trading for clients in the United States and the European Union will commence in September.

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This is the first issuance of Securitize instruments in Europe. Previously it worked with companies in the United States and Japan.

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The move into the European market was made possible after the General Secretariat for the Treasury and International Finance of Spain authorised the platform’s participation in a regulated ‘sandbox’.

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After the six-month term, the firm will be able to participate in a pilot phase in the EU.

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Securitize plans to issue, manage and enable trading of security tokens in Spain and the European Union.

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“European companies will gain a new way to raise capital and […] liquidity through secondary trading,” said the firm’s co-founder Carlos Domingo.

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In 2021, Morgan Stanley backed Securitize in a $48 million round.

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Earlier, a number of hedge funds became participants in Avalanche’s Evergreen subnet testnet to assess the advantages of on-chain trades and settlements for currency and interest-rate swaps.