Allfunds to offer tokenised funds on Solana

Allfunds, the Madrid-headquartered B2B fund distribution platform, will roll out tokenised versions of investment funds on the Solana blockchain. The company plans to convert fund shares into digital tokens and offer the infrastructure to asset managers and the distributors that use its platform. The rollout will begin with pilot programmes and limited client deployments before broader availability.

Each token will represent a share or a fraction of a share in an existing fund, with ownership transfers recorded on Solana’s distributed ledger. Allfunds intends the tokens to remain linked to the legal, regulatory and custody arrangements of conventional funds rather than to replace transfer agents or custodians.

Allfunds noted it will reconcile on-chain records with off-chain registries, transfer-agent functions and compliance checks. Pilots will test investor onboarding, know-your-customer and anti-money-laundering processes, custody arrangements for tokenised holdings, and interfaces with fund accounting and transfer-agent systems.

Solana was chosen for its fast confirmation times and low per-transaction costs, which can support more frequent micro-transactions and secondary-market activity. The blockchain’s smart-contract capability can be used to automate distributions, corporate actions and some reporting tasks, while established post-trade controls and compliance workflows remain in place.

Regulatory and legal work will focus on mapping on-chain tokens to off-chain legal entitlements, oversight of custody providers and investor protections. Different jurisdictions apply varied rules on fund structures, transferability and investor eligibility, and the firm will need to ensure the tokenised products meet applicable rules where they are offered. Operational tasks include key management, custody of private keys, fallback processes for lost keys and dispute resolution mechanisms.

The token infrastructure will be offered to asset managers on the Allfunds platform and to connected wealth and distribution channels. Tokens are intended to sit alongside existing fund servicing arrangements and be reconciled with standard registries and contractual documents.

An Allfunds spokesperson noted, “Pilots will assess operational integrations and regulatory mapping before any wider release.”