OECD – Tokenisation of Assets and Distributed Ledger Technologies in Financial Markets, 2025

The report by OECD "Tokenisation of Assets and Distributed Ledger Technologies in Financial Markets" explores the current state, potential benefits, and challenges of asset tokenization and distributed ledger technologies (DLTs) in financial markets. The study examines why, despite growing interest, there is still limited adoption of tokenized assets in financial markets. It identifies key obstacles including lack of liquidity, absence of ecosystem infrastructure, need for integrated payment systems, and challenges with wholesale CBDCs. The report also addresses concerns about atomic settlement, custodian roles, and the complexity of DLT infrastructure standardization. While highlighting potential benefits such as efficiency gains, improved transparency, and enhanced asset tradability, the analysis maintains a neutral stance on whether authorities should address these obstacles.