Digital Assets: Securitize Issues Tokenized REIT Shares in Spain Targeting €150M Raise

July 27, 2023 | Digital Assets, News, Real Estate

This is the first natively tokenized issuance of equity under the EU Pilot Regime in Europe.

Spanish health care REIT Mancipi S.A. plans to raise €150 million using Securitize’s technology, issuing shares on the Avalanche blockchain. Securitize becomes the first platform authorized to issue digital asset securities in both the U.S. and Europe, anticipating an EU-wide license.

The Spanish General Secretariat of the Treasury and International Finance (CNMV) accepted Securitize into a test environment for digital asset securities, with tokenized share trading expected this fall, complying with the EU’s Distributed Ledger Technology Pilot Regime. (Yahoo Finance)

Securitize’s CEO, Carlos Domingo, believes this innovation will benefit European businesses, providing new ways to raise capital and gain tax advantages and liquidity through secondary trading.

Mancipi S.A., a Spanish real estate investment trust specializing in health sector commercial real estate, aims to raise €150 million with the shares to be tokenized on the Avalanche blockchain, allowing secondary trading in September. This will be the first natively tokenized equity issuance under the EU Pilot Regime, thanks to CNMV’s support.

Once the requirements are met, Securitize expects securities licenses in Spain and throughout the EU, becoming the first firm to achieve this in both the U.S. and EU.

Tokenized shares open opportunities for European businesses to raise capital, improve transparency, increase liquidity, and facilitate faster and secure cross-border transactions.

Mancipi’s CEO, Ángel G. Maroto, said the REIT would now attract investors from Europe and the U.S. given the advantages to investors in terms of new investment systems equipped with security, transparency and agility.

According to Fernando Segarra, founding partner of Mancipi, S.A., applying blockchain technology in capital markets would unleash new opportunities.

Related Story:  Bitcoin Denominated, AI-Powered Life Insurance Provider Meanwhile Raises $19M

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