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Reale Mutua issues surety bonds using blockchain

Thursday 6 August 2020 10:31 CET | News

Reale Group has issued its first fully digital surety bond, as part of the national project ‘Fideiussioni Digitali’ promoted by CeTIF, SIA and Reply, in collaboration with Banca d’Italia and IVASS.

An important result that has been achieved thanks to the commitment of Reale Mutua's Special Risks Technical Department and Reale Lab 1828 – the innovation centre of Reale Group – both being one of the first in Italy to believe in the process of digitisation of sureties.

The first digital surety bond issued by Reale Mutua has the Municipality of Milan as obligee and it guarantees the completion of reclamation works in the so-called ‘ex Plasmon’ area in Via Cadolini, Milan, by the principal Milano Progetti – a company of AbitareIn Group.

Established in Turin in 1828, Società Reale Mutua di Assicurazioni is a large Italian mutual insurance company. It is the parent Company of Reale Group, an international group with more than 3,700 employees who safeguard approximately 5 million customers, in Italy, Spain, and Chile.


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Keywords: Reale Group, SIA, blockchain, digital surety bond, insurance, Italy
Categories: DeFi & Crypto & Web3
Companies:
Countries: Italy
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DeFi & Crypto & Web3






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