The system allows for the concurrent issuance of an ISIN-listed note that settles via an international central securities depository, alongside a permissioned security token based on the ERC-3643 standard, generated on-chain. Both instruments share the same legal compartment, maintaining regulatory compliance and operational consistency across formats.
Unified Issuance and Settlement Options
MTCM’s dual-issuance model aims to connect conventional and digital markets without sacrificing regulatory standards or investor protections. Market participants can opt for traditional or blockchain-based settlement processes while benefiting from a single, fungible security across both platforms.
Under the white-label agreement, Tokeny’s T-REX tokenization engine is embedded within MTCM’s issuance infrastructure. MTCM handles structuring, administration, and calculation agentship roles, while Tokeny manages digital onboarding, identity verification, and cap table management. The system supports the entire lifecycle of the security, from investor Know Your Customer (KYC) checks to subscription and secondary trading through MTCM’s white-labelled investor portal.
According to Tokeny representatives, traditional investors may find the digital format increasingly attractive due to its faster settlement processes and reduced transaction costs over time. They believe such models can help familiarize institutional investors with blockchain-based assets, potentially boosting adoption rates.
The combined offering is designed to expand distribution opportunities for arrangers by reaching both conventional and crypto-native investor segments. For professional and institutional investors, the ability to self-custody tokenized securities significantly reduces reliance on intermediaries and cuts related costs.
