Asset Tokenization in Financial Markets 2025

Contents56 Contributors Lead Authors Cameron Nili Executive Fellow, World Economic Forum; Digital Assets Strategy Director, Accenture Sandra Waliczek Lead, Blockchain and Digital Assets, World Economic Forum Project Leadership Duane Block Managing Director, Accenture John Lee Managing Director, Accenture Drew Propson Head, Technology and Innovation in Financial Services, World Economic ForumAcknowledgements Steering Committee Marta Belcher Chairperson; President, Filecoin Foundation Duane Block Managing Director, Accenture Dante Disparte Chief Strategy Officer; Head, Global Policy, Circle Internet Financial Denelle Dixon Chief Executive Officer and Executive Director, Stellar Development Foundation Sandy Kaul Head of Digital Asset & Investor Advisory Services, Franklin Templeton Investments German Soto Sanchez Chief Strategy Officer, Broadridge Financial Solutions Anthony Scaramucci Founder, SkyBridge Capital Faryar Shirzad Chief Policy Officer, Coinbase “Topp” Jirayut Srupsrisopa Group Chief Executive Officer, Bitkub Capital Group Holdings Tom Zschach Chief Innovation Officer, SwiftWorking Group Mustafa Mert Așkaroğlu Advisor, Bank for International Settlements Innovation Hub, Hong Kong Mark Attard Director, Digital Assets & Client Engagement – TTS, Citi Daniela Barbosa Executive Director, LF Decentralized Trust Nuntapun Bhensook Assistant Director, Digital Currency Policy and Development Unit, Bank of Thailand Amy Caruso Head of Collateral Initiatives, ISDA Bugra Celik Director, Digital Assets and Currencies, HSBC Boon-Hiong Chan Industry Applied Innovation Lead, Head Securities Market & Technology Advocacy, Deutsche Bank Hugo Coelho Head of Digital Policy, Centre for Alternative Finance, University of Cambridge Daniel Coheur Co-Founder and Chief Commercial Officer, Tokeny Ezechiel Copic Director of Digital Asset Policy, Visa Matthew Danzig Managing Director, Technology Investment Banking, Lazard GroupRichard Fenner Director, Government Relations, Euroclear Conan French Director, Digital Finance, Institute of International Finance Jon Frost Head of Innovation and the Digital Economy, Bank for International Settlements (BIS) Tom Duff Gordon Vice-President International Policy, Coinbase Aaron Gwak Founder and Chief Executive Officer, Libeara Darko Hajdukovic Head of Digital Markets Infrastructure, LSEG Joann Healy Director, Capital Markets Marketing, Chainlink Labs Matthew Higgins Assistant Director – Solution Adoption, ISDA John Ho Head of Legal, Financial Markets, Standard Chartered Bank Markus Infanger Senior Vice-President, Ripple Candace Kelly Chief Legal Officer, Stellar Development Foundation Nick Kerigan Head of Innovation, SwiftContributors