The transaction, structured by UniCredit and CDP with SACE’s guarantee, uses the BlockInvest platform for the creation and management of the digital security.
Milan, 11 December 2025 — BlockInvest announces that it has provided the technological infrastructure used for the digitalization and registration on a public blockchain (Polygon PoS) of the €5 million minibond issued by E4 Computer Engineering, structured by UniCredit as arranger and subscribed by both UniCredit and Cassa Depositi e Prestiti (CDP), with a 50% guarantee from SACE.
This is the first minibond in Italy to be tokenized on a public blockchain under the regulatory framework of the Decreto FinTech. The transaction marks an important step in the evolution of financing instruments for SMEs toward tokenized models.
BlockInvest’s Role
BlockInvest provided the technological platform through which the following activities were managed:
- the creation of the digital asset in accordance with the Decreto FinTech
- the representation of the security on a public blockchain
- the management of the Digital Register and transfers by Weltix, acting as the Register Manager authorized by CONSOB under the DL FinTech
The process — traditionally based on complex document workflows — has been transformed into a digital workflow that is verifiable and traceable across all relevant components.
Efficiency, transparency and traceability
Thanks to tokenization:
- the registration of the asset on DLT enables immediate traceability of all movements of the security
- every event is immutably recorded, improving control and auditability
- the lifecycle of the minibond becomes more efficient, reducing the manual activities typical of traditional processes
This transaction demonstrates how tokenization can be concretely applied even in SME financing, while remaining fully aligned with the current regulatory framework.
A step toward the next generation of capital markets
The digitalization of minibonds represents a significant milestone on the path toward more transparent, efficient and interoperable markets.
Lorenzo Rigatti, CEO of BlockInvest, commented:
“This transaction marks a turning point: the participation of institutions such as UniCredit, CDP and SACE on a public infrastructure confirms that the time is ripe for a truly open and interoperable financial system. We are no longer in the experimental phase: BlockInvest is providing today the technological rails for the capital markets of tomorrow, demonstrating that compliance and innovation on public ledgers can — and must — coexist.”
