Italian central bank backs DeFi tokenization project with Polygon, Fireblocks

The Italian central bank's Milan hub has selected a project led by Cetif Advisory and Polygon Labs in its second round of proposals. = =.jpg 1x, https://images.cointelegraph.com/images/960_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDcvNGFhYjRjMDUtY2MxYy00MGNmLTkyNjktZWJiNDA4NzBhOTA5LmpwZw == .jpg 2x" src="https:// images.cointelegraph.com/images/1434_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDcvNGFhYjRjMDUtY2MxYy00MGNmLTkyNjktZWJiNDA4NzBhOTA5LmpwZw==.jpg" alt="It the alian central bank supports DeFi tokenization project with Polygon, Fireblocks" class="lazy-image__img type:primaryImage"/> News Join us on social networks

The Milano Hub innovation center of the Bank of Italy will support a project developed by Cetif Advisory to research an ecosystem of security tokens for institutional decentralized finance (DeFi).

The project has no "commercialization objective" but will expand the "scope of analysis" of security tokens in secondary markets. Security tokens are digitized representations of ownership of real assets. CEO of Cetif Advisory, Imanuel Baharier, said in a statement:

"We believe it is vitally important to create the conditions for DeFi to become a safe and open operating environment for supervised entities."

The project will strive to enable institutional market participants to operate in a DeFi environment while adhering to regulatory guidelines. He will further develop Cetif Advisory's Lionity platform, which he describes as an "institutional-grade automated market maker".

Related: INX Security Token Platform Gets First Token From Public Company, Greenbriar

Cetif Advisory is a spin-off of the Cetif Research Center of the Università Cattolica del Sacro Cuore in Milan. The project is a collaboration with Polygon Labs, Fireblocks, and other organizations. Italian banks, asset management companies and 10 other financial institutions will participate.

Credem Euromobiliare Private Banking scelta da Banca d'Italia per l'innovazione - MilanoFinanza News