ioBuilders Powers Allfunds' €1.8 Trillion Fund Network Into On-Chain Markets

Allfunds Blockchain has launched Harmonia, an initiative to extend the distribution and accessibility of tokenised funds to Solana, with Spanish technology firm ioBuilders providing the underlying infrastructure through its Asseto platform. The move connects Europe's largest fund distribution network — spanning more than 3,300 asset managers and financial institutions and close to €1.8 trillion in assets under administration as of the end of March 2026 — to public blockchain markets.

The fund industry has experimented with tokenisation for years, but largely through pilots and proofs of concept. Harmonia is positioned differently: as a direct commercial bridge between traditional financial networks and public decentralised finance ecosystems. Funds currently available on both Allfunds and Solana will remain accessible across both networks, ensuring consistent availability in traditional and on-chain environments and allowing institutional distribution and Web3 markets to operate within a single financial architecture.

The technical core of the initiative is Asseto, ioBuilders' tokenisation platform. It acts as the integration layer between Allfunds' traditional workflows and on-chain environments, handling the issuance and full lifecycle management of tokenised funds — including custody, trading and settlement — in line with the operational and compliance requirements institutions must meet. Its modular, multi-chain design allows issuers to tokenise instruments such as bonds, equities, money market funds and private equity without being locked into a single network.

For asset managers and transfer agents available through Allfunds, the structure is designed to require no change to existing operations. Issuers can bring tokenised funds to market through familiar institutional workflows while gaining access to new blockchain-based distribution channels, maintaining connectivity to established networks throughout.

The connection to the Hedera ecosystem runs through ioBuilders itself. Hashgraph, the organisation behind the Hedera network, has invested in ioBuilders specifically to expand institutional, multi-chain tokenisation through Asseto — a strategy that now finds its largest use case to date in linking Allfunds' universe of funds to on-chain markets. Eligible products are further evaluated by Particula, which applies a structured risk-assessment framework intended to support institutional confidence.

Rubén Nieto, Head of Allfunds Blockchain, said the initiative moves tokenisation "out of the tech lab" and into "the commercial mainstream," allowing traditional asset managers to tap into Web3 liquidity "without altering their trusted workflows." Ben Brophy, Head of Institutional Growth, Europe at the Solana Foundation, said the decision "combines the massive scale of Europe's traditional fund sector with Solana's leading blockchain technology," adding that decentralised liquidity and institutional distribution are increasingly operating within a unified architecture.

The launch marks a new phase in the adoption of tokenisation within the fund sector, establishing a template in which institutional distribution and public blockchain infrastructure function as parts of the same system. With ioBuilders and Asseto serving as the underlying infrastructure layer, the model could see further asset managers bring tokenised products on-chain in the coming months, as the boundary between traditional fund distribution and decentralised markets continues to narrow.