BPER Bank, Banca Generali, Banca Mediolanum, Reale Group and Iccrea have joined the Sandbox designed by Cetif .
Official launch scheduled for 2023
The launch of the platform is planned for the first quarter of 2023, subject to the definition of the regulatory framework that allows - also in Italy - the issuance, placement and subscription of financial instruments through DLT/Blockchain.
In this context, to also preside over international systemic evolutions, Cetif Advisory will activate the process to enter the DLT Pilot Regime and participate in what is configured as the European macro Sandbox , for testing in a protected environment a secondary market for financial instruments in token form.
Appreciation for the new platform
Satisfied users, as revealed by the survey conducted at the end of the first phase of the trial.
Specifically, it was found that nearly 90 percent of financial institutions note strong interest from their customers in investing through the token instrument.
More than 70 percent, then, believe it is a concrete possibility that the Cetif platform could be launched on the market by 2023, subject to fine-tuning and expected regulatory pronouncements on the matter from the relevant authorities.
Instead, 100 percent indicated as the main and only element to be addressed for the platform's production and go-to-market, the definition of a specific security token regulation in our country as well.
"Our goal," says Imanuel Baharier, General Manager of Cetif Advisory , "is to test with all interested financial institutions, the actual issuance of Security Tokens of the different asset classes of alternatives. These will be 'last mile' pilots, which may take place in the special framework offered by the MEF's Sandbox Regulatory during 2022 (subject to acceptance of the application by the relevant authorities) or outside of it."