Securitize launches tokenized securities for Mancipi SA, a Spanish REIT, with US and EU licenses.
Securitize, a real-world asset tokenization company with headquarters in the US, has formally begun issuing tokenized securities in Europe. As a result, it becomes the first digital asset platform to hold US and EU securities licenses.
In order to reflect equity in Mancipi SA, a Spanish real estate investment trust (REIT) that invests in commercial real estate in the Spanish healthcare industry, Securitize has started issuing digital asset security tokens. To find, acquire, and grow investment possibilities, cutting-edge location and geographic data will be used. Mancipi disclosed its intention to raise $150 million, and ILP Lawyers is its registered advisor for this capital raise.
The news comes after Securitize’s acceptance into the testing ground (or “sandbox”) for digital asset securities run by the Spanish General Secretariat of the Treasury and International Finance (CNMV), which was announced in June 2022.
According to the Distributed Ledger Technology Pilot Regime of the European Union, CNMV will keep an eye on Securitize in this sandbox as it develops and eventually makes it easier to trade and settle tokenized shares.
Co-founder and CEO of Securitize, Carlos Domingo, a Spaniard, commented on the news: “Investing in private market alternative assets can be one of the most effective methods to produce wealth, but historically these opportunities have been out of reach for most individuals. As the first company to do so under the EU’s new pilot regime for digital assets, Securitize is now the first company to be permitted to issue and trade tokenized securities in both the U.S. and Europe.
This innovation, which will give firms a new opportunity to raise capital through primary capital raises and get potential tax benefits and liquidity through secondary trading, will primarily help European businesses.
The chance to use blockchain technology in the capital markets seems exceptional
On the Avalanche public blockchain, all shares will be issued and tokenized. Secondary trading of tokenized shares is planned to start in September. Securitize plans to be the first company to obtain securities licenses in both the US and the EU once it has provided share issuance, trading, and settlement services in accordance with CNMV’s regulations in Spain and across the entire European Union.
CEO and manager of real estate assets at Mancipi SA, Angel G. Maroto, stated: “We are very proud to be the first REIT that is going to operate in this new market promoted by Securitize, as it will offer great advantages to investors in terms of new investment systems equipped with security, transparency, and agility, in addition to offering us the possibility of attracting new investors in the European market and the United States.”
“After devoting a significant portion of my professional career to the real estate business, I have always been attracted by new technologies, and applying blockchain technology to the capital markets seems like a unique opportunity,” Fernando Segarra, founding partner of Mancipi SA, continued.
Despite the fact that Securitize recently received approval to sell tokenized securities in Spain, the company already has a big presence there: a large portion of its technology staff is Spanish, and Banco Santander was one of the company’s first investors.