<p>A Picasso painting is to be sold in tokenised form, allowing investors to buy "shares" in the work, Swiss digital asset bank Sygnum announced Thursday.</p>.<p>Sygnum joined forces with Artemundi, a fund specialising in art investments, to offer the shares in Picasso's 1964 work "Fillette au Beret".</p>.<p>"This marks the first time the ownership rights in a Picasso, or any artwork, are being broadcast onto the public blockchain by a regulated bank, enabling investors to purchase and trade 'shares' in the artwork called Art Security Tokens (ASTs)," Sygnum said.</p>.<p>The value of the work, which measures 65 by 54 centimetres (29 by 24 inches), is estimated at four million Swiss francs (3.6 million euros, $4.2 million), the Zurich bank said in a statement.</p>.<p>As on stock exchanges, investors will be able to buy and sell shares in the painting on a secondary market through blockchain technology.</p>.<p>ASTs will go on sale for a minimum subscription of 5,000 Swiss francs, Sygnum said, stressing that it is regulated by Switzerland's financial market watchdog FINMA.</p>.<p>The work itself will be stored in a highly secure location, Sygnum said.</p>.<p>"Tokenisation lowers the barriers to art investment and opens up the art market to a broad range of new investors," Sygnum's director general and co-founder Mathias Imbach said in the statement.</p>.<p>In 2019, FINMA gave Sygnum permission to operate as a bank, making it one of the world's first crypto-banks.</p>.<p><strong>Check out DH's latest videos:</strong></p>
<p>A Picasso painting is to be sold in tokenised form, allowing investors to buy "shares" in the work, Swiss digital asset bank Sygnum announced Thursday.</p>.<p>Sygnum joined forces with Artemundi, a fund specialising in art investments, to offer the shares in Picasso's 1964 work "Fillette au Beret".</p>.<p>"This marks the first time the ownership rights in a Picasso, or any artwork, are being broadcast onto the public blockchain by a regulated bank, enabling investors to purchase and trade 'shares' in the artwork called Art Security Tokens (ASTs)," Sygnum said.</p>.<p>The value of the work, which measures 65 by 54 centimetres (29 by 24 inches), is estimated at four million Swiss francs (3.6 million euros, $4.2 million), the Zurich bank said in a statement.</p>.<p>As on stock exchanges, investors will be able to buy and sell shares in the painting on a secondary market through blockchain technology.</p>.<p>ASTs will go on sale for a minimum subscription of 5,000 Swiss francs, Sygnum said, stressing that it is regulated by Switzerland's financial market watchdog FINMA.</p>.<p>The work itself will be stored in a highly secure location, Sygnum said.</p>.<p>"Tokenisation lowers the barriers to art investment and opens up the art market to a broad range of new investors," Sygnum's director general and co-founder Mathias Imbach said in the statement.</p>.<p>In 2019, FINMA gave Sygnum permission to operate as a bank, making it one of the world's first crypto-banks.</p>.<p><strong>Check out DH's latest videos:</strong></p>