Bilbao, March 20, 25.- Experts from the Alastria ecosystem agreed that tokenisation is a clear trend that will revolutionise the financial industry, at the Meeting on Tokenisation, organised by BASQUEFIT, Financial and Investment Cluster of the Basque Country.
‘We are making an industry movement’. This idea by Francisco Maroto (BBVA) sums up the ‘momentum’ that the financial sector is experiencing with the tokenisation phenomenon.
At the BASQUEFIK event, Miguel Ángel Domínguez, chairman of Alastria, stressed that to take advantage of the benefits of tokenisation we need to democratise access to blockchain infrastructures. With the project ‘Infraestructura de Servicios Blockchain de España’ (ISBE), promoted by Comunidad de Madrid, this infrastructure will be made available to support the growth of the token-economy and the promotion of DLT use cases.
Speakers discussed regulation, adoption challenges, use cases and opportunities on the horizon in the short and medium term especially related to financial assets. Some food for thought:
– Demystify the use of technology to reduce barriers to entry: the business of financial instruments remains the same incorporating efficiencies through the use of DLT. The Pilot Regime adjusts traditional financial regulation by taking into account the properties of distributed technology.
– Tokenisation is a clear trend in the financial sector. Institutional clients are increasingly interested in tokenised asset solutions, although it is still mostly for incumbents. For smaller companies, tokenisation democratises access to finance, on favourable terms for both the issuer and the investor.
– Keep an eye on the opportunities of tokenised deposits, utility tokens for financing and tokenisation of promissory notes.
– The EU is fearful about stablecoins. Regulation makes any such project practically unfeasible.
– Tokenisation opens the door to new financial markets and allows assets traditionally isolated in fragmented environments to be integrated into a common space. We are at a turning point and we have the technology and regulation to enable a truly cross-border European market.
It is always a pleasure to listen to great experts from the ecosystem who share their knowledge and experience with enormous generosity: Alexander Herranz (S&M Services), Gloria Hernández Aler (finReg360), Álvaro Garrido Mesa (Legal Node), Rocío Álvarez-Ossorio (Token City), Juan Jiménez Zaballos (Santander, Alastria), Francisco Maroto (BBVA), Aurora Cuadros Sánchez (Cecabank), Alfredo Muñoz García (Universidad Complutense de Madrid, Grant Thornton España), among others.