Tokenisation of assets and distributed ledger technologies in financial markets

Abstract

Market participants and policy makers have shown strong interest in DLT-based financial applications such as tokenisation. However, despite growing enthusiasm by market participants and the emergence of a clearer divide between crypto-assets and regulated tokenised assets, adoption of tokenisation remains scarce. This report analyses possible reasons for the absence of a market for tokenised assets and puts forward policy considerations for financial supervisors and policy makers.