The Bank of Italy announced that it will cooperate with Polygon and Fireblocks in the field of DeFi.
The Milan Hub of the Bank of Italy has decided to support a DeFi tokenization project led by Cetif Consulting and Polygon Labs. The project was established to explore the security token ecosystem and is non-commercial.
The Italian Central Bank will support the DeFi project led by Cetfi Consulting and Polygon Labs
The Bank of Italy announced that it has decided to support a DeFi tokenization project run by Cetif Consulting and Polygon Labs.
Imanuel Baharier, general manager of Cetif Consulting, stated that they believe in the importance of creating conditions for DeFi to become a safe and open operating environment for audited organizations. The project will work to enable institutional market participants to operate in a DeFi environment while complying with regulatory guidelines. By developing the Lionity platform, they will offer an enterprise-level automated market maker service.
This project is in collaboration with Polygon Labs, Fireblocks and other organizations. Italian banks, wealth management companies and ten other financial institutions will also participate in the project.
The project was selected during Milan Hub’s second call for proposals and was one of seven projects to receive the green light in the fintech category. The project will be supported by the Milan Hub for six months with expert advice and in-depth regulatory research support.
Securities tokenization is an emerging area of blockchain technology. Citi GPS estimates that the tokenized securities market could be worth $4 trillion to $5 trillion by 2030. Private equity and venture capital are leading in tokenized securities, followed by real estate.
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