Azimut tokenizes $ 6 million loan portfolio with Sygnum blockchain technology – Ledger Insights
European asset manager Azimuth issued blockchain-based digital security tied to a € 5 million ($ 6 million) portfolio of SME loans. Azimuth tokens were issued via Disagreement, the Swiss bank’s digital asset issuance platform Sygnum.
Azimut has 70 billion euros ($ 83 billion) in assets under management and a market capitalization of 2.7 billion euros ($ 3.2 billion). The asset manager cited the benefits of digital securities as greater liquidity due to ease of transfer, the ability to split ownership, increased transparency and lower costs.
He sees tokenization as the “democratization” of investing, because fractionation means that assets that are not generally available to private clients can now be purchased. Apart from private customers, the tokens will be sold to alternative credit funds.
“We believe the scope of innovation presented today is similar to that introduced in the 1980s with the first mutual funds,” said Giorgio Medda, Co-CEO and Global Head of Asset Management. “We are exploring new territories which, in the not too distant future, will revolutionize the asset management industry.
Azimut itself also invests in the digital asset sector. Last year, Sygnum and the Japanese SBI announced a partnership digital asset venture capital fund in which Azimut will participate.
Additionally, the asset manager is launching its own fund, Digital Asset Opportunities RAIF, to invest in cryptocurrencies, digital assets, and equity from fintech or blockchain companies.
According to Sygnum he expects this 5 million euro securitization to be followed by larger ones. The Swiss bank already has symbolized his own actions and helped Fine Wine Capital to symbolize a fine wine portfolio.
Update: AUMs have been corrected from millions to billions.