Sygnum
In 2021 Sygnum Bank and Artemundi tokenized Pablo Picasso's 1964 'Fillette au béret' into 4,000 Art Security Tokens, the first time a regulated bank issued tokens in an artwork, with legal ownership rights under the Swiss DLT Act. The painting is stored in a high-security Swiss freeport under bank custody.
The first bank-tokenized Picasso: fine art as a ledger security.
Prism analyst note
The Picasso AST is a legal milestone wrapped around an appraisal-marked, bank-walled asset: ownership rights are genuinely enforceable under Swiss law, but exit requires a buyer inside Sygnum's client network or an eventual sale of the painting itself. Blue-chip art indices suggest gentle appreciation; the position is best understood as a collectible allocation with museum-grade provenance.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
Structure & compliance
- Underlying
- Pablo Picasso, 'Fillette au béret' (1964), oil on canvas
- Legal structure
- Ledger-based securities (Swiss DLT Act); co-ownership of artwork
- Jurisdiction
- Switzerland
- Custodian
- Sygnum Bank (token) / Swiss freeport (artwork)
- Administrator
- Sygnum Bank AG
- Oracle / NAV source
- Periodic independent art appraisals
- Reserve information
- Artwork insured and stored in Swiss freeport; appraisal-based valuation.
- Transfer restrictions
- Trading between verified Sygnum clients on SygnEx.
- Investor eligibility
- Accredited / professional investors
- KYC required
- Yes
Reserve verification
Contracts & on-chain data
Addresses shown only where independently confirmed against explorers and issuer documentation. Holder and transfer analytics are available via the linked explorers. 60+
Documents & disclosures
Frequently asked
Who decides when the painting sells?+
Disposal follows the token terms, typically a qualified-majority holder vote coordinated by the issuer.
