Azvalor, the Spanish asset manager, has launched its first tokenised investment fund, within the regulatory sandbox of the Spanish National Securities Market Commission (CNMV). This project, developed jointly with Allfunds Blockchain and BNP Paribas acting as depositary bank and fund administrator, introduces an alternative distribution model for UCITS funds.
The fund, Azvalor Blockchain FI, represents a structural innovation in terms of fund operational flows. The fund shares are registered and stored on a private blockchain network, using Allfunds Blockchain’s infrastructure to process the different types of transactions. Although the fund will not be open to distribution in this initial phase, this launch enables selected investors to validate new operational features.