Milano Hub, the renowned Innovation Centre of the Bank of Italy, has made a groundbreaking decision by selecting the “Institutional DeFi for Security Token Ecosystem Project,” a joint effort promoted by Cetif Advisory in collaboration with Polygon Labs.
The ambitious project aims to explore the vast opportunities presented by decentralized finance (DeFi) while also delving into the realm of security tokens, an emerging facet of the blockchain industry.
Leading the collaboration is Cetif Advisory, a prominent name in the finance and consulting sector, bringing together several key players to make the venture a resounding success.
Among the major contributors are Fireblocks, an enterprise digital asset operations platform; Reply, a technical developer; Linklaters, a legal and tax consultancy firm; and DVRS, a Web3 studio.
Furthermore, the project will involve prominent Italian banks, asset management companies, and financial institutions, showcasing the industry-wide interest in the potential of DeFi and security tokens.
The main goal of this project is to cater to institutional players seeking secure platforms to engage with DeFi while adhering to rigorous regulatory compliance requirements.
One such initiative currently in development is the Lionity platform, which aims to be the first European institutional-grade automated market maker for the secondary market of security tokens.
Imanuel Baharier, General Manager of Cetif Advisory, emphasized the importance of establishing a secure and open operating environment for decentralized finance (DeFi) that caters to supervised entities.
He expressed confidence that this initiative could bring substantial benefits to the entire financial system, offering enhanced security for institutional and professional operators, as well as fostering opportunities, stability, and resilience across the system.
To support the selected projects in their endeavor, Milano Hub will provide developmental assistance for a period of six months, commencing this month.
The support will encompass expert guidance in banking, financial, and insurance matters, regulatory research, and the organization of seminars, events, and conferences to facilitate valuable interactions between the projects, institutions, and the academic community.
The collaboration between Milano Hub, Cetif Advisory, and Polygon Labs marks a significant milestone in the evolution of DeFi and security tokens in the financial industry. With institutional players seeking secure and compliant avenues to explore the world of DeFi, the project’s outcomes are eagerly awaited by the entire financial community.
As the potential benefits for the financial ecosystem become increasingly apparent, the world looks forward to witnessing the positive changes this innovative collaboration will bring.