REYL Intesa Sanpaolo has been appointed as a paying agent for ARTEX, a Liechtenstein-based multilateral trading facility.
ARTEX aims to create an ecosystem around art. REYL Intesa Sanpaolo will help to provide its services through its own asset servicing business line.
Through exchange listings, and by splitting the price of artworks into shares with an issue price from €100 , the objective of the financial model is to pave the way for the development of a new asset class, which is now accessible to millions of investors, according to ARTEX.
REYL Intesa Sanpaolo operates on multiple Swiss stock exchanges and has direct access to the main central securities depositories.
The firm offers clients a paying agent service, which includes: regulatory and operational support for shares, bonds, private issuances, and initial public offerings.
Tatiana Carruzzo, head of asset services at REYL Intesa Sanpaolo, comments: “The collaboration and support among colleagues in the paying agent department, asset services, as well as the support from all internal departments and the bank's management, have allowed us to achieve our goals.”
Yassir Benjelloun-Touimi, co-founder and CEO of ARTEX, says: "[The REYL Intesa Sanpaolo] team played an important role in creating the best conditions for the successful launch of the ARTEX MTF. Since then Swiss banks have been enthusiastic about art as a new asset class, demonstrating the great potential of democratising investment in art.”
