Tokenization in Finance: Evidence and Implementation Pathways
A GFTN Initiative
About the Initiative
The tokenization agenda is advanced. Global standard-setting has established the technical and regulatory frontier. What remains missing is the translation layer: an evidence base connecting those frameworks with the implementation conditions, constraints, and sequencing decisions that financial institutions and regulators in emerging and developing economies actually face.
This initiative closes that gap. Through our two focused tracks, we bring together practitioners, regulators, and multilateral organisations to develop implementation pathways that are country-adaptable and grounded in real-world constraints. The output is a practitioner's implementation guide, published at Singapore FinTech Festival in November 2026.
This initiative is designed for organisations that work at the intersection of tokenization and implementation. They include:
- Financial institutions, banks, and infrastructure operators with operational experience in tokenization, settlement, or cross-border payments
- Regulators, central banks, and finance ministries shaping the next wave of digital asset policy and financial infrastructure
- Technology firms, clearing and settlement network operators, and multilateral organisations engaged in the design or deployment of tokenised financial systems
Participants are named as contributors in the published implementation guide, which is distributed across GFTN's global network of central banks, financial institutions, and policymakers.
Focus Areas
Interoperability and Infrastructure
Fragmented infrastructure across ledgers, borders, and platforms. Topics: cross-border payment rails, interoperability standards and protocols, tokenised collateral mobility, digital identity and KYC, settlement finality and risk, CBDC integration and coexistence, open-source and shared infrastructure.
Regulation, Trust and Governance
Regulatory ambiguity and trust gaps constraining tokenisation at scale. Topics: regulatory classification and legal certainty, AML/CFT and compliance, liability and consumer protection, data governance and privacy, governance models for shared infrastructure, cross-border regulatory coordination, and systemic risk and financial stability.
How It Works
Participants select their preferred track where they submit problem statements. These form the evidence base. Through in-person and virtual convenings, participants will develop implementation pathways across their respective tracks. The findings are reviewed and shaped by senior advisors from central banks, international financial institutions, and multilateral organisations before being published.
Participants are required to commitment to a structured, seven-month programme of development with the depth of engagement that produce a credible, actionable guide.
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