A tokenized issuance is assembled from advisers as much as from software. This is what each kind is engaged for, and firms with established practices in each.
Each firm here maintains a named practice in this field and publishes work on it. Nothing on this page is a recommendation, and no firm has been asked or has paid to appear.
Classification of the instrument, the offering structure and its exemptions, the vehicle's constitutional documents, and whether a ledger may be the register in the chosen jurisdiction.
One of the most comprehensive digital assets practices among global firms, covering token issuance, stablecoin compliance, protocol structuring and derivatives.
Cross-border coordination for banks and funds launching digital asset products, with tax, data protection and governance alongside securities advice.
Blockchain and digital assets practice spanning regulatory, enforcement and transactional work.
Fintech and digital assets practice with substantial work on tokenized securities, market infrastructure and MiCA implementation.
Capital markets and fintech practice active on digital bonds, tokenized funds and DLT market infrastructure.
Derivatives, capital markets and fintech practice with long-standing involvement in digital asset documentation standards.
Securities regulatory and broker-dealer practice, frequently engaged on the market-structure questions tokenized offerings raise.
Broad international footprint with a dedicated blockchain and digital assets group, including tokenization platform work.
Disputes-focused firm with a blockchain and digital asset practice, relevant where enforcement or recovery is in prospect.
Swiss regulatory and capital markets practice, relevant where a vehicle is formed under the DLT Act so that ledger-based securities are recognised.
Offshore firm advising on the formation and governance of issuance vehicles, foundations and segregated portfolio structures.
Offshore legal and fiduciary services, frequently the counsel and administrator behind fund and securitisation vehicles.
Financial statements for the vehicle, reserve attestations or audits for an issuer, and controls reports for a service organisation.
Audit, reserve attestation and controls reporting, with a dedicated digital assets assurance practice.
Assurance and blockchain analytics, including public-chain tooling and tokenization advisory alongside audit.
Audit and assurance with long-running crypto-asset reporting research and regulatory tracking.
Audit, reserve attestation and regulatory compliance advisory for digital asset issuers and service providers.
Mid-market audit and attestation work, commonly engaged by issuers below the scale the largest firms serve.
Operating model, licence application support, target market and corridor analysis, and programme delivery across the parties involved.
Financial services strategy with substantial published research on tokenization, settlement and market structure.
Strategy and operating-model work, and among the most cited published estimates of tokenized asset adoption.
Strategy consulting, co-author of widely referenced work on the size and trajectory of asset tokenization.
Delivery and systems integration for financial institutions, including payments modernisation and DLT programmes.
Blockchain analytics used for sanctions screening, transaction monitoring and investigations by institutions and supervisors.
Blockchain analytics and crypto compliance screening, widely used to meet AML obligations on ledger activity.
Forming and administering the vehicle, directorships, registrar and transfer agency, NAV calculation and investor servicing.
Fund administration, corporate services and depositary functions, including digital asset fund servicing.
Fund administration and NAV calculation for alternative investment structures.
Investor services and vehicle administration across the jurisdictions issuance vehicles are commonly formed in.
Registrar and transfer agency at scale — the incumbent function a ledger-based register has to interoperate with or replace.
Corporate, fund and capital markets administration, including SPV management and trustee services.
The rules and interfaces themselves — standards bodies and industry associations whose output the above all build against.
The nonprofit body governing the T-REX permissioned token standard and its reference implementation.
Stewards the Canton Network and the Canton Improvement Proposal process through which its token standards are set.
Industry body working on token taxonomy and standards for institutional digital assets.
Derivatives documentation standards, including work on digital asset definitions and the legal treatment of tokenized collateral.
Sets the anti-money-laundering standards that national regimes implement, including the travel rule for virtual assets.
Central bank experimentation on tokenized settlement, wholesale CBDC and cross-border payment architecture.