Spain Launches First Regulated Euro Tokenized Fund on Polygon Blockchain

Spain has launched its first regulated euro-denominated tokenized investment fund, BeToken, marking a pivotal step in integrating blockchain technology with traditional finance within the European Union. Built on Polygon’s (MATIC) Proof-of-Stake (PoS) blockchain, the initiative represents a compliance-driven security token offering (STO) under Spain’s stringent regulatory framework overseen by the Comisión Nacional del Mercado de Valores (CNMV). The fund, developed by Beself Brands, tokenizes shares in a digital-native wellness and lifestyle company, granting investors real economic and governance rights, including dividend participation and voting privileges, under a legally binding framework [1].

The project leverages the ERC-3643 token standard to automate Know Your Customer (KYC) and Anti-Money Laundering (AML) checks directly on the blockchain, ensuring regulatory compliance while enhancing transparency and security. By utilizing Polygon’s low-cost, high-speed infrastructure, the initiative addresses key challenges in asset tokenization, such as settlement efficiency and operational scalability. Polygon’s technical upgrades, including the Bhilai hardfork and Heimdall v2, have further optimized the network for large-scale financial applications, with the platform processing over $1 billion in payment volume during the first half of 2025 [3].

Polygon’s CEO highlighted the launch as a milestone in digital equity issuance, emphasizing that tokenized capital markets are now ready for broader adoption. The platform’s institutional-grade capabilities and ability to handle millions of daily transactions position it as a leader in real-world asset (RWA) tokenization, bridging traditional finance with decentralized infrastructure. This development aligns with growing institutional interest in blockchain-based assets across the EU, where regulators increasingly recognize tokenized instruments as legitimate investment vehicles [4].

The success of BeToken could catalyze further tokenization of real-world assets, including real estate and private equity, within regulated frameworks. Spain’s approach, balancing innovation with investor protection, may serve as a model for other jurisdictions seeking to adopt blockchain-enabled financial systems. Analysts suggest that the project’s compliance-first strategy reduces barriers to institutional participation, fostering trust in tokenized markets while addressing concerns about regulatory ambiguity [5].

Sandeep Nailwal, co-founder of Polygon, described the initiative as a pivotal moment for European tokenization, underscoring the platform’s role in enabling scalable, secure, and compliant blockchain solutions. For BeToken, the integration with Polygon ensures alignment with EU regulations while leveraging decentralized infrastructure to reduce costs and settlement times. This collaboration demonstrates how governments and enterprises can collaborate to unlock new financial markets without compromising legal and ethical standards [5].

The launch of BeToken reflects a broader shift toward blockchain adoption in institutional finance, driven by demand for efficiency, transparency, and access to alternative investments. As Spain’s CNMV continues to refine its regulatory approach, the project sets a precedent for how tokenized assets can coexist with traditional markets, potentially reshaping asset management and investment paradigms in the EU and beyond.

Sources:

[1] [BeToken Deploys on Polygon, Becomes Spain's First Regulated and Onchain Security Token Offering](https://polygon.technology/blog/betoken-deploys-on-polygon-becomes-spains-first-regulated-and-onchain-security-token-offering)

[2] [Polygon Powers Spain's First Regulated Euro Token Fund](https://www.altcoinbuzz.io/cryptocurrency-news/polygon-powers-spains-first-regulated-euro-token-fund/)

[3] [Polygon Powers Spain's First Live Security Token Offering](https://blockonomi.com/polygon-powers-spains-first-live-security-token-offering-under-eu-law/)

[4] [BeToken Launches on Polygon (MATIC) as Spain's First Regulated Security Token Offering](https://blockchain.news/news/betoken-launches-on-polygon-spain-first-regulated-onchain-sto)

[5] [Sandeep | CEO, Polygon Foundation](https://x.com/sandeepnailwal/status/1948074659842285826)