We want to tokenize a fund or short-dated debt.
Asset managers and issuers looking at an on-chain share class, faster settlement, and new distribution.
Tokenized assets, built like institutional products.
Putting a deposit, a fund, or a real-world asset on a blockchain is the easy part. The work is everything around it: who may buy it, how subscriptions and redemptions settle, how distributions and corporate actions run, where it trades, and how investors are reported to. We design that full lifecycle.
For
Banks, asset managers, issuers, and platforms bringing an asset on-chain.
You get
A product structure, lifecycle mechanics, a distribution plan, and a reporting framework.
How we work together
A milestone-based mandate, from structuring to launch.
You are probably asking one of these.
Tokenization projects tend to start from one of four questions.
We are a bank looking at tokenized deposits.
You need to know how deposit tokens differ from stablecoins, and what that means for your balance sheet and your clients.
We hold a real-world asset and want institutional investors.
Real estate, credit, commodities, or infrastructure, structured so an institution can hold it and its risk team can approve it.
Our token exists, but nobody trades it.
Distribution and secondary liquidity were never designed. The token needs venues, eligible buyers, and a market.
What we do.
Five workstreams that cover the asset from structure to secondary market.
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Tokenized deposits, money market funds, short-dated debt.
We structure the product: what the token represents, its legal wrapper, and how it sits on your balance sheet or in your fund.
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Real-world asset frameworks for institutional issuers.
Eligibility, custody of the underlying asset, valuation, and the disclosures an institutional buyer expects.
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Subscription, redemption, and corporate-action mechanics.
How money comes in and goes out, how coupons and distributions are paid, and how each event is recorded.
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Distribution architecture across regulated venues.
Where the product is sold and traded, which intermediaries take part, and how investor eligibility is enforced.
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Secondary-market design and tokenholder reporting.
Transfer rules, liquidity arrangements, and the reports investors and supervisors receive.
What you get.
Documents that take a tokenized product from idea to first issuance.
Product structure memo
What the token represents, its legal wrapper, and its accounting treatment.
Lifecycle mechanics
Subscription, redemption, distributions, and corporate actions, step by step.
Platform and network selection
Build, partner, or rent: tokenization platforms and networks compared.
Distribution plan
Venues, intermediaries, and the investor segments you can reach.
Eligibility and transfer rules
Who may hold the token, and how that is enforced on every transfer.
Reporting framework
Tokenholder, regulatory, and accounting reports, with their data sources.
How it runs.
Four phases, from the asset on paper to the first issuance.
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Phase 01
Assess.
The asset, the investors you want to reach, and the rules that follow the asset into each market.
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Phase 02
Structure.
Legal wrapper, token design, and accounting treatment, worked through with your counsel and auditors.
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Phase 03
Design.
Lifecycle mechanics, platform choice, and distribution, reviewed in working sessions.
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Phase 04
Support launch.
Vendor and venue selection, first issuance, and oversight of the first servicing cycle.
Why tracee.
Current mandate
Capital and product architect.
For a digital asset platform with a South African regulatory footprint, from product design to capital structure.
Research
We follow every major issuance.
Our briefings decode the market's tokenization moves, from BlackRock's BUIDL to Schroders on J.P. Morgan's Kinexys. Browse the briefings.
Teaching
Lecturer on blockchain.
The founder lectures at the Sorbonne, Mines ParisTech, and Collège de Paris.
Further reading.
Briefing
Why tokenized deposits and stablecoins are not the same digital dollar
Briefing
Schroders tokenises a money market fund on J.P. Morgan's rails: Kinexys becomes infrastructure for hire
Briefing
BUIDL goes multichain: BlackRock turns its tokenized money market fund into DeFi infrastructure
Briefing
Canada's Big Six banks answer stablecoins with a joint deposit token
Frequently asked
Common questions about tokenized products.
What is a tokenized product?
A financial asset, such as a deposit, a fund share, a bond, or a claim on a real asset, whose ownership is recorded on a blockchain. The asset stays what it is in law; the token changes how it is issued, transferred, settled, and serviced.
How is a tokenized deposit different from a stablecoin?
A tokenized deposit is a bank deposit recorded on a ledger, inside the banking perimeter. A stablecoin is issued by a separate entity and backed by a reserve. The difference changes who may issue, who is protected, and how each is regulated. Read our briefing on the distinction.
Do we need to build our own platform?
Not always. Several banks and market infrastructures now offer tokenization rails to third parties. We compare building, partnering, and renting on cost, control, and time to market.
Which regulations apply?
The rules follow the asset. A tokenized fund share is still a fund share, and a deposit token is still a deposit. We map the regime that applies in each market where you issue or sell.
Our other services.
Most engagements combine services, because the decisions are connected. Each one runs under one of our four engagement formats.
Start with a conversation.
Thirty minutes, no slide deck, no obligation. Tell us which asset you want to bring on-chain, and we will tell you whether we can help.