Credit Agricole-backed BlockInvest receives funding from Open Venture to expand tokenization solution
Summary
One of BlockInvests existing backers is Cr\xe9dit Agricole Italia, a partner in multiple tokenization initiatives.Even if the tokenization industry is gaining momentum, creating disruptive software is not enough to become the European market leader, said Lorenzo Rigatti, CEO of BlockInvest. Now is the right time to strengthen the company foundation for future growth.Together with Cr\xe9dit Agricole Italia it worked on DLT trials with the Bank of Italy to develop a solution for mini digital bonds for SMEs. Subsequently, it continued the development with a view to offering tokenized bonds as part of the banks wealth management offerings.However, Cr\xe9dit Agricole Italia is not its only institutional client. Additionally, it also partnered Centotrenta Servicing to tokenize its asset backed securities (ABS) portfolio of non performing loans (NPL). These projects used the Polygon public blockchain.We are excited to join forces with BlockInvest to jointly boost the very promising market of asset tokenization both in Italy and overseas, said Fulvio Andriolo, CEO of Open Venture.