Italian digital securities firm MGA, associated with BlockInvest, granted authorization as a registry in Italy
In a significant move towards digital innovation, Italy has introduced the Fintech Decree in March 2023, supporting the concept of digital securities. The country's law enacts the EU DLT Pilot Regime, allowing for DLT-based securities that don't fit within the EU DLT Pilot Regime, similar to eWpG securities in Germany.
Milano Global Advisors (MGA), a company based in Italy, has taken a leading role in this digital revolution. MGA has partnered with BlockInvest, a digital securities technology provider backed by Credit Agricole Italia. As a result, MGA has been accepted as a digital securities registry under Italian law.
The partnership with BlockInvest equips MGA with advanced tokenization technology, enabling them to offer professional subscribers exclusive industry analysis, deeper insights, and early access to legislative updates.
Under the new Italian law, the registrar responsible for the records of digital securities operates in a manner similar to Germany's Electronic Securities law (eWpG) and Luxembourg's control agent. Notably, digital securities in Italy do not require a central securities depository (CSD), instead, the record of shareholders is stored on a DLT.
The company incorporated in Italy as a digital securities registrar under the Fintech Decree and working on BlockInvest’s tokenization technology, supported by Credit Agricole Italia, is not explicitly named in the available search results. However, the partnership between MGA and BlockInvest is well-documented, marking a significant step forward for Italy's digital securities sector.
This development is a testament to Italy's commitment to fostering a digital-friendly environment and encouraging innovation in the financial sector. The sources for this article are silentstock639 and Composite Ledger Insights.
