Securitize launches tokenized assets in Spain, plans to trade from Sept.

The US-based trading platform is preparing to become the first platform to issue and trade tokenized assets in both the US and EU, and will operate under a new pilot program for distributed ledgers. In June, Securitize said it began tokenizing shares of real estate investment trust Mancipi in Spain. Secondary trading is expected to launch on the Avalanche blockchain in September.

S Securitize plans to conduct its first issue of tokenized shares under the European Union's pilot program, which is overseen by the European Securities Authority (ESMA). The pilot program was introduced in March. The company must undergo a six-month sandbox period under''overseen by Spain's National Securities Market Commission (CNMV). It also needs to obtain regulatory approval under a pilot program to be able to issue, manage and trade tokenized securities in Spain and across the European Union.

Securitize founder Carlos Domingo said: "Securitize is now the first company to be able to issue and trade tokenized securities in both the U.S. and Europe.

The tokenization process makes investing in private assets more accessible to retail investors and improves liquidity by making tokenized assets tradable on secondary markets. It also benefits businesses. 'European businesses will be a major beneficiary of this innovation, providing businesses with a new way to raise capital through initial public offerings and gain potential tax benefits and liquidity through secondary trading,' Domingo said.