1、Tokenisation and traditional finance Taking stock of developments April 2024ContentsWhat is tokenisation?04Tokenised deposits 06Central Bank Digital Currencies 07Tokenising securities 08Tokenising collateral 09Tokenising wider asset classes 10Tokenising funds 11Cryptoasset Exchange-Traded Funds(ETFs

2、)and Exchange-Traded Notes(ETNs)12Practical considerations for firms 13How KPMG in the UK can help 14Contact us 15Document Classification:KPMG Public3What is tokenisation?Tokenised depositsCentral Bank Digital Currencies Tokenising securities Tokenising wider asset classes Tokenising funds Practical

3、 considerations for firms How KPMG in the UK can help Contact Us Tokenising collateral CryptoassetETFs&ETNs 2024 KPMG LLP,a UK limited liability partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English comp

4、any limited by guarantee.All rights reserved.Traditional and digital finance are becoming increasingly entangled,leading to several interesting possibilities involving the so-called tokenisation of assets.Nonetheless,confusion often persists as to the exact definition of this term alongside others s

5、uch as distributed ledger technology(DLT)or cryptoassets.This article explores the various ways that financial services firms are seeking to tokenise traditional assets and how regulatory regimes are evolving to keep pace.Against this rapidly changing landscape there are opportunities,but firms also

6、 need to ensure their risk management,governance,and resilience capabilities remain fit-for purpose.Moreover,firms should begin considering wider questions about their role within the future landscape of financial services.For example,what new settlement asset will processes coalesce around?Will dis