The Firm assisted Centotrenta Servicing, in partnership with IBM and Blockchain Reply of the Reply Group, in the creation of Hypermast STS, the first platform for the end-to-end management of receivables securitisation transactions based on blockchain technology (DLT).
Hypermast STS aims at providing the financial market with a secure and reliable tool able to connect the ecosystem of originators, servicers, intermediaries, credit institutions and investors and allow all those securitization players to interact during all stages of the transaction in a transparent, secure and traceable way. In line with the new European legislation, Hypermast STS (acronym for Simple, Transparent, Standard) aims at simplification and transparency of securitization transactions.
BNP Paribas Securities Services is the depositary bank and paying agent.
The team at Gattai, Minoli, Agostinelli & Partners who assisted the client in this complex project was led by Partners Emanuela Campari Bernacchi (head of the Structured Finance Department), Valentina Lattanzi (partner of the Structured Finance Department) and Licia Garotti (head of the Intellectual Property and Information Technology Law Department). Emanuela Campari Bernacchi, Valentina Lattanzi and Licia Garotti are also the co-founders of the Firm’s Fintech Taskforce, conceived and created three years ago to anticipate the market requests in the Fintech area and to offer innovative solution based on the experience of those international markets which are considered more mature under a finance and technology perspective.