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Mediobanca Tokenizes Mutual Fund Units in Italy

Italian bank Mediobanca has issued tokenized investment fund units within the Ministry for the Economy and Finance sandbox, becoming the first to propose this method of subscribing for instruments in Italy. The tokens mirror the conventional process for issuing and redeeming units in its “Mediobanca Global Multimanager 35” UCITS fund, with transactions logged using blockchain.

The tokens were issued to a select group of clients in May and have now been extended to certain clients of CheBanca! , the bank’s wealth management brand. The wallet provided to store tokens is an important step in the path to tokenization.

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