On Wednesday, 25 March 2026, our Solutions Architect Richard Glen joined a panel at the Crypto Assets Conference hosted by Frankfurt School of Finance & Management, focused on what tokenised collateral really solves in capital markets. Brilliantly moderated by BNP Paribas's Verena Hess, PhD and joined by fellow panellists Eurex’s Efthimia Kefalea, BaFin’s Stephan Mögelin and JP Morgan’s Jack Van Den Daele please see link to the full discussion.
The panel discussion examined how tokenised collateral is moving from experimentation into practical, real‑world use within capital markets. A central theme was the inefficiency created by today’s fragmented collateral landscape, where assets are dispersed across multiple custodians and infrastructures, limiting mobility and increasing settlement frictions. The panellists discussed how tokenisation can act as a connective layer, improving interoperability across jurisdictions and market participants without dismantling existing market structures.
Much of the discussion focused on how distributed ledger technology can enhance the current financial market infrastructure rather than replace it. The panellists highlighted the use of a trusted, neutral ledger as a shared source of truth, enabling faster and more reliable collateral movement while preserving the legal and economic characteristics of the underlying assets. This model allows firms to benefit from improved collateral velocity and reduced settlement risk without requiring fundamental changes to existing custody, clearing, or risk management frameworks.
Operational efficiency was a recurring topic, with panellists outlining how tokenisation supports greater automation and straight‑through processing. Faster mobilisation of collateral was positioned not simply as a technology upgrade, but as a meaningful shift in how liquidity can be accessed and optimised across markets. Importantly, the discussion emphasised that these efficiencies can be achieved while continuing to apply existing internal risk models.
The regulatory backdrop also featured prominently. The panellists noted that European regulatory frameworks are largely technology‑neutral, providing a supportive environment for the adoption of tokenised financial instruments. Regulation was framed less as a barrier and more as an enabler when innovation is implemented within established legal and supervisory structures.
Looking ahead, the panel converged on a hybrid vision for the market. While digital assets and tokenised workflows are expected to continue expanding, established institutions such as central securities depositories remain critical in maintaining settlement finality, integrity, and systemic safety. The long‑term outlook presented was one of convergence rather than disruption—using tokenisation to bridge traditional and digital markets and support a more interconnected, efficient, and continuously operating financial system.
.svg)
