editorial
Rabobank Joins Forces with 2Tokens, ABN AMRO, and Assetblocks in European Blockchain Sandbox Application
Rabobank is excited to announce its partnership with 2Tokens, ABN AMRO, and Assetblocks in their joint application for the European Blockchain Sandbox (EBS). The collaboration aims to explore the innovative use case of tokenized financial security and stablecoin integration. This partnership is bridging the gap between the physical world and the digital economy by tokenizing real assets and using euros for payments.
The existing Assetblocks ‘base case’ offers individuals the opportunity to invest in tracking stocks that represent renewable energy sources. Through the acquisition of tokens, investors become partial owners of solar, wind, or battery parks and receive profits generated by these assets.
To ensure compliance with MiFID II regulations, proof of ownership is represented by a Non-Fungible Token (NFT), classified as a security. This gives investors the confidence that their holdings are backed by real assets. The NFT purchase or sale and dividend distribution are currently conducted using conventional euros.
The goal of the use case is to explore the use of euros or bank deposit stablecoins in a sandbox setting. Both non-hosted and hosted wallets provided by banks will support these stablecoin transactions, offering new accessibility and convenience for investors.
In addition, the partners will explore other options to tokenize these assets as financial instruments, such as security tokens. Being accepted into the EBS enables them to discuss relevant regulatory topics with EU and individual European member state frameworks.
The NFTs have embedded metadata, providing critical information about the underlying assets. Investors can verify each NFT at the lowest aggregate level, allowing them to track production and access real-time value data.
To comply with regulatory requirements, all investors must complete a Know Your Customer (KYC) procedure during the onboarding process. Once whitelisted, investors can easily purchase NFTs using euros. The partners are also interested in exploring payment in euro-based stablecoins, with applicable procedures including the whitelisting of non-hosted or hosted wallets.
Alex Bausch, Chairman at 2Tokens, expressed excitement about the collaboration, stating that it represents a significant step forward in democratizing investments and creating a decentralized economy. By leveraging blockchain technology, they are opening up new possibilities for investors and contributing to a sustainable future.
Meindert Jansberg, CEO of Assetblocks, highlighted the aim of creating a common understanding of the true potential of tokenization in a fully compliant way through their collaboration. The project hopes to pave the way for future tokenization and stablecoin projects, unleashing the full potential of tokenization for society.
Martijn Siebrand, Digital Assets ABN AMRO, stated that the use case in the EBS is of interest because it allows them to build on their digital assets capabilities and learn about new topics and developments. They are looking forward to learning from regulators and industry partners through this project.
Marjan van der Plas, Blockchain Acceleration Lab at Rabobank, is excited about the collaboration and the opportunity to contribute to the advancement of blockchain technology.
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