After almost a decade of pilot programmes and proof of concepts, tokenisation has moved firmly into the use-case space with the distribution of tokenised money market funds (MMFs) by the likes of BlackRock, Franklin Templeton and Janus Henderson, and intraday repo platforms such as Broadridge’s DLR.
In recognition of this development, April saw the launch of Calastone Tokenised Distribution, a service which enables fund managers to tokenise any fund on the existing Calastone network and distribute it across blockchain-based channels.
This includes tokenised MMFs, a traditional investment product that is widely used and highly regulated, many of which are on the Calastone network.
Simon Keefe, head of digital solutions at Calastone, says: “Initially we were talking to asset managers’ innovation teams about tokenisation. But now we are talking to the operational and distribution teams because that it is where there is a real need and opportunity.”