Swiss company Six, owner of Bolsa y Mercados Españoles (BME), has announced the acquisition of a stake in OpenBrick, a digital platform for issuing, managing, trading and settling tokenised securities linked to real estate projects in Spain.

This transaction makes BME one of OpenBrick's main shareholders and reinforces Six's commitment to digital assets. In addition to its new shareholder, the company, which was founded by Grupo Lar, Renta 4 Banco and ioBuilders, has Garrigues and Teras Capital as strategic partners.

Controlled testing ground
OpenBrick received a favourable pre-assessment in February 2023 for admission to the CNMV's regulatory sandbox, the controlled testing ground in which the CNMV analyses the viability of new business models and the use of new technologies in the provision of financial services. Now, through BME, it aims to obtain a licence to operate in the European Union by 2025.

BME will assume the role of platform operator through Iberclear, the Spanish central securities depository. It will therefore be the body in charge of managing the DLT trading and settlement system (TSS) under the EU Pilot Scheme.

Blockchain technology
The blockchain-based platform developed by OpenBrick connects issuers, investors and financial intermediaries with a wide range of real estate projects, from residential to commercial properties, logistics and offices. By integrating this technology into a specialised real estate market, it facilitates the raising of funds by issuing equity or debt instruments in a faster and more efficient manner.

Securities can be purchased in a primary market and subsequently traded in a secondary market, thus providing liquidity to each investment portfolio. On this platform, the marketplace acts as a non-bank financing channel and allows projects to be developed faster and at lower cost compared to traditional financing channels. One example will be the launch of a project with Alquiler Seguro to purchase and rent housing in the Madrid region.

Financial market developments
Six's Head of Security Services and Executive Committee member, Javier Hernani, says that the investment will position the Swiss company “as a major player in the EU's Digital Agenda and in financial market developments. This investment is part of Six's commitment to play a leading role in the future of financial markets by subscribing to new assets and exploring the options of innovative technologies like DLT. In this case, it isapplied to the real estate industry, which has traditionally been highly valued by investors in Spain.”

OpenBrick CEO Carlos Matilla explains that his platform “facilitates financing through tokenisation, offering a new marketplace as a source of agile financing for different real estate players and reducing the barriers to entry for people interested in investing in the industry”.

^{Photo: Six}