Milano Global Advisors Approved as Italy's Third Digital Securities Registry
Milano Global Advisors (MGA) has been approved as the third digital securities registry in Italy. The firm will use tokenization technology from BlockInvest, backed by Credit Agricole Italia, to facilitate this process. This move aligns with Italy's recent Fintech Decree and the EU's DLT Pilot Regime.
MGA's role as a digital securities registry is similar to that of a registrar, as seen in Germany's eWpG and Luxembourg's concept of a control agent. In Italy, Euronext Securities Milan, the Central Securities Depository for the Italian financial market, will act as the registrar for MGA's digital share registrations.
The Italian law, enacted in line with the EU DLT Pilot Regime, also accommodates DLT-based securities that fall outside the regime's scope. This flexibility is further supported by the Fintech Decree, introduced in March 2023, which encourages digital securities that don't require a central securities depository (CSD).
MGA's approval as a digital securities registry marks a significant step in Italy's embrace of digital asset technology. With BlockInvest's tokenization technology and the supportive legal framework, MGA is poised to streamline digital securities registration, potentially opening new avenues for investment and financial innovation.
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