The OECD has published a report on the tokenisation of assets and potential implications for financial markets. The report:

  • examines the benefits of asset tokenisation and the challenges to its wider adoption;
  • analyses the potential disruptive effect on trading, liquidity, pricing, clearing and settlement;
  • highlights the increased importance of a trusted and credible central authority in a tokenised environment (such as a custodian);
  • sheds light to the possible necessity for a tokenised form of central bank digital currency or stablecoin for the payment leg of security settlement on DLT-based trading venues; and
  • discusses the policy implications of tokenisation for financial markets.
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