One of the most significant markers of this evolution comes from Europe. Amundi, the leading asset manager in Europe, has launched a tokenized share class of a euro money market fund, relying on a distributed ledger infrastructure, with CACEIS acting as the custody and settlement provider.
This is no longer a simple “blockchain pilot”, but a real product integrated into the industrial value chain of asset management. The share class is recorded directly on a distributed ledger, which enables :
- transparent, near real-time record-keeping;
- smoother subscription and redemption flows;
- 24/7 operations, aligned with the digital habits of new investors.
The objective is twofold: modernize the operational infrastructure while attracting a generation of investors already familiar with digital rails, stablecoins and Web3 interfaces.
This movement confirms that tokenization is no longer driven solely by crypto start-ups: it is becoming a strategic lever embraced by major financial institutions.
A hypergrowth RWA market
The figures confirm this trend. In 2025, the value of tokenized real-world assets rose from around 15 billion dollars to more than 35 billion. This growth is driven by several segments:
- money market funds;
- mortgage loans;
- bonds and private debt;
- receivables and structured credit.
Several distributed ledger networks, both specialized and general-purpose, are positioning themselves as key infrastructures for these products aimed at institutional investors.
But this growth is not just about volumes. The range of assets involved is expanding rapidly:
- real estate,
- commodities,
- carbon credits,
- equities,
- structured products,
- and now euro money market funds.
For issuers, the challenge is no longer to “test the blockchain”, but to rethink the value chain:
- reducing operational frictions;
- accelerating settlements;
- automating flows via smart contracts;
- generating more granular, more usable data for reporting and risk management.
Europe as a laboratory for tokenized finance
Europe plays a central role in this transformation. Several dynamics are converging:
- Regulations such as MiCA and DLT pilot regimes provide a clearer framework for the issuance and circulation of tokenized financial instruments.
- Key jurisdictions (Luxembourg, France, Germany) are gradually adapting securities and fund law to support the on-chain representation of financial instruments.
Major European custodians are rolling out hybrid architectures combining:
- traditional registries;
- distributed ledgers (DLT);
- institutional wallets;
- digital custody services;
- near-continuous settlement capabilities.
This “phygital” approach makes it possible to comply with existing regulatory constraints while capturing the operational benefits of distributed ledgers.
For players such as DEMETER NEXUS and OVOCHAIN, this opens up room for innovation across the following layers:
- infrastructure (networks, smart contracts, security);
- orchestration (workflows, automation, rights and access governance);
- integration (interoperability with banking systems, custodians, PMS, etc.).
From simple tokenization to advanced tokenization
Tokenizing an asset is no longer just about “issuing a token” representing a security. Advanced tokenization relies on a holistic approach at the crossroads of finance, technology and compliance.
1. Multi-asset and multi-chain
Institutional platforms now need to:
- manage different types of assets (funds, debt, equities, real estate, carbon credits, logistics assets, etc.);
- operate across multiple networks (L1, L2, sidechains, permissioned networks) while providing a unified experience to end users.
This complexity requires a strong abstraction of the underlying infrastructure so that institutions can focus on their products and clients rather than on chain management.
2. Asset programmability
Thanks to smart contracts, tokenized assets become programmable. It becomes possible to automate:
- distributions (dividends, coupons, interest);
- payment schedules;
- certain governance clauses;
- collateralization or redemption mechanisms.
These rules, executed in a transparent and auditable way, pave the way for:
- more sophisticated products combining traditional finance and institutional-grade decentralized finance;
- seamless integration with embedded finance and new B2B or B2C platforms.
3. Compliance integrated by design
For institutions, compliance is non‑negotiable. KYC/AML, distribution restrictions, whitelists, regulatory reporting: all these elements must be embedded at the core of the infrastructure, not added as an external “layer”.
An advanced tokenization architecture must therefore:
- manage identities and access rights;
- apply distribution rules depending on investor profiles and jurisdictions;
- facilitate the production of reliable, timestamped and traceable regulatory reports.
4. Next‑generation security
As the volume and lifespan of tokenized assets increase, security becomes strategic:
- cryptographic resilience, including against future quantum threats;
- institutional-grade key governance and key management;
- continuous technical supervision (monitoring, alerting, audit trails).
Platforms must be able to support mission-critical environments subject to strict availability, confidentiality and data integrity requirements.
This is precisely where the value proposition of OVOCHAIN’s DeDNA technology lies: providing building blocks capable of supporting regulated institutional use cases with high security requirements, while remaining interoperable with the broader Web3 ecosystem.
OVOCHAIN in the RWA ecosystem
For financial institutions, the question is no longer: “Should we experiment with tokenization?”, but rather:
“How do we industrialize it, at controlled cost and with an acceptable risk profile?”
Expectations relate as much to the robustness of infrastructures as to their ability to integrate with existing systems (core banking, securities back‑office, portfolio management systems, market infrastructures, etc.).
Solutions such as OVOCHAIN address this demand by providing:
- Resilient distributed architectures, suited to mission‑critical environments with high regulatory requirements.
- Fine‑grained management of rights, access and data flows, enabling confidentiality, information segregation and the level of transparency required by regulators and auditors.
- Interoperability with current and emerging standards, helping institutions avoid technological lock‑in.
A use‑case‑driven approach, notably covering:
- tokenized funds;
- receivables and structured financing;
- logistics or industrial assets;
- structured products and infrastructure financing solutions.
In a context where banks, asset managers and large corporates are looking to move from POCs to industrial deployment, this infrastructure‑centric and modular approach becomes a decisive advantage.
Outlook for 2026: towards intelligent and efficient finance
Market signals are converging:
- major financial institutions now see tokenization as a strategic lever to modernize their systems;
- pressure on operational costs and transparency requirements is accelerating the adoption of distributed ledgers;
- demand for more flexible, faster and more personalized offerings is driving programmable architectures.
By 2026, programmable finance could become the norm, with:
- natively digital assets, interoperable across multiple platforms;
- near‑instant delivery‑versus‑payment flows;
- modular financial products, assembled and operated via smart contracts;
- better integration between traditional finance, institutional‑grade decentralized finance and embedded finance.
In this rapidly evolving landscape, players capable of delivering advanced, secure, compliant and interoperable tokenization infrastructure – such as OVOCHAIN – will play a key role in scaling finance to the institutional level.
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