Santander introduced a system for trading tokenized assets with the participation of digital real

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The Spanish bank Santander presented a solution for trading tokenized real estate and cars using the digital Brazilian real.

Santander management reported that the projectParfin technology is used to tokenize ownership rights to assets and carry out transactions with them. The bank claims that the platform will simplify the sale of movable and immovable property for the Brazilian population. Smart contracts on a managed blockchain will improve transaction security and expand the use cases for the Central Bank of Brazil's digital currency.

Santander's offer comes as part ofpilot project of Brazil's Laboratory of Financial and Technological Innovation (LIFT), exploring use cases for a government-owned stablecoin. Its launch is expected in 2024. However, Santander is not the only institution that is participating in the LIFT competition. In March, the central bank selected nine projects to participate in the development of the digital real.

In addition to using blockchain, Santanderready to expand the list of services provided using cryptocurrencies. In July, the bank's management announced that it would provide Brazilian clients with the opportunity to trade crypto assets. In March, Santander announced a partnership with Agrotoken, a company specializing in tokenization of agricultural products. They are testing a project to provide loans in grain-backed tokens.