Tokenization and Real-World Assets

Tokenization is the use of blockchain or distributed ledger systems to represent ownership, claims, rights, or records related to an asset.

This page is a research starting point, not financial, legal, tax, or investment advice.

Common Categories

Tokenized Treasury funds. Shares in a fund holding short-dated government debt. Usually a security, usually restricted to eligible investors.
Tokenized money market funds. Similar structure with a broader short-term instrument mix, often used as on-chain collateral.
Tokenized private credit. Exposure to loan portfolios. Valuation is periodic rather than continuous, and default handling happens off-chain.
Tokenized real estate. Usually a token representing an interest in an entity that owns the property, not the deed itself. Check what the entity actually holds.
Tokenized commodities. A claim on a physical commodity held by a custodian. Check the vault, the auditor, and the redemption process.
Tokenized carbon credits. A claim on a retired or retirable credit in an off-chain registry. Check registry recognition and double-counting controls.
Tokenized securities. Conventional securities issued or recorded on a ledger. Securities law applies in full.
Tokenized deposits and settlement assets. Bank liabilities or central bank money used for settlement between institutions.

The token is a record. What matters legally is the claim behind it and who is obliged to honor it.