Reed Smith In-depth

Key takeaways

  • Tokenisation and securitisation transactions using distributed ledger technology (DLT) are set to be transformational to the debt capital market space.
  • The technology offers unprecedented potential to digitalise the representation of real assets and, in turn, for the industry to unlock the significant benefits and transaction efficiencies afforded by this infrastructure.
  • Choice of an establishment jurisdiction for tokenisation structures will be a key factor in this rapidly evolving area.

作者: Katie Grace Priyanka Bala Rajaram, Angelina Shum, Joseph Poon


This article explores the treatment of tokenisation transactions across multiple key jurisdictions.

A central pillar of this technology is efficiency; this is driven by the automation, improved tradability and faster settlement times inherent within the blockchain technology. Policymakers across jurisdictions have been keen to capitalise on this efficiency, and in doing so, capture market share through the development of legal and regulatory frameworks to support tokenisation. Approaches to regulating this nascent industry range across jurisdictions, from applying existing and established frameworks to tokenised products, to the creation of tailored and evolving frameworks.