Asset Tokenization in Financial Markets 2025

Contents20 Assets already governed under well-established frameworks (such as ETFs and bonds) are easier to tokenize in a compliant way – these will vary by region.REGULATORY READINESSAssets that carry high administrative burdens, such as corporate actions or complex ownership structures, benefit from programmability and a shared system of record.OPERATIONALLY INTENSIVE Assets that can be repurposed or reused across multiple trading steps, such as collateral or liquid staking, benefit from the composable features of tokenization.ASSET REUSABILITY Assets in high demand by institutions and that have familiar structures, such as MMFs and treasuries, benefit from the increased velocity offered by tokenization.INSTITUTIONAL DEMANDAssets locked in physical form, such as gold, benefit from secure immobilization and tokenization to drive tradability and liquidity.PHYSICAL FORM FACTOR Assets traded through unstructured channels and over-the-counter (informal) markets benefit from tokenization’s programmability and composability to enable new trading venues.UNSTRUCTURED OTC MARKETS Assets trading or sold in large-value increments, such as real estate or public placement sovereign bonds, can benefit from fractionalization.LIMITED DIVISIBILITYAssets with low infrastructure maturity, including custody and exchanges, benefit from the “leap- frog” potential of tokenization.INFRASTRUCTURE MATURITYFIGURE 6 Tokenization-ready traits There are eight key traits that help determine whether an asset is suitable for tokenization and which asset classes should be prioritized.Tokenized assets WHAT MAKES AN ASSET TOKEN-READY?