Core Insights - Securitize has received full regulatory authorization from Spain's CNMV to operate the EU's first blockchain-based Trading and Settlement System, utilizing Avalanche as the underlying infrastructure [1][3] - This positions Securitize as the only company globally licensed to run a regulated digital securities infrastructure across both the U.S. and the EU, facilitating a direct connection between the two largest capital markets [1][6] Regulatory Milestone - The approval follows four years of regulatory collaboration with CNMV, ESMA, Bank of Spain, and the European Central Bank [2] - Securitize's first issuance under the EU TSS framework on Avalanche is anticipated in early 2026 [2] Digital Market Framework - The approved framework integrates the functions of a Multilateral Trading Facility and a Central Securities Depository into a single digital platform, allowing seamless trading and settlement of tokenized stocks and bonds across all 27 EU member states [4] - Securitize Europe Brokerage and Markets, SV SA, obtained its Investment Firm license in December 2024, which covers order execution, custody, transfer-agent services, and market infrastructure operation [4] Licensing and Market Reach - The Investment Firm license has been passported across major EU jurisdictions, including Germany, France, Italy, Luxembourg, and the Netherlands [5] - The authorization grants Securitize ERIR status in Spain, enabling end-to-end management and servicing of tokenized assets throughout their lifecycle [5] Strategic Positioning - Securitize's CEO emphasized that tokenizing assets will eliminate historical barriers that fragmented global capital markets [5] - The unique licensing allows Securitize to connect issuers and investors across the U.S. and EU financial markets [6] Infrastructure Selection - Avalanche was chosen for its institutional-grade performance, offering sub-second finality and the ability to deploy purpose-built blockchains tailored to regulatory requirements [6] - This architecture provides predictable settlement times and compliance frameworks essential for regulated trading venues, addressing concerns about blockchain performance in traditional finance [7]