As policymakers, regulators and market participants consider the implications of tokenization, the Canadian Forum for Financial Markets (CFFiM)/Forum Canadien des Marchés Financiers (FCMFi) t released Tokenization and the Future of Capital Markets: Implications Across the Capital Markets Value Chain.

Authored by digital assets expert Duane Block, Managing Director, Alvarez & Marsal Crypto Advisory, the report examines tokenization across the full capital markets value chain—from capital formation and distribution to trading, settlement, custody, administration and investor servicing. It considers how market infrastructure, regulation and technology interact as capital markets become increasingly digital.

The report discusses, among other topics:

• Implications for capital formation, trading, settlement and investor servicing;
• The role of market infrastructure in supporting tokenized markets;
• The continuing importance of regulated intermediaries; and
• Opportunities and challenges associated with broader adoption

The report is available here.