Working papers, policy briefs, research reports, and standards drafts.
The Association's complete published output. Every paper is authored by fellows, reviewed by the secretariat, and published under the Association's editorial standard. Citations are provided in each paper's detail view.
- Working paperApril 2026
Secondary liquidity for tokenised private funds
Why order-book venues have been a false start, and what a quarterly auction infrastructure should look like.
The Boli AssociationMarket structuresecondary marketsprivate fundsauctions41 pagesRead → - Standards draftApril 2026
Governance of on-chain agent identity under ERC-8004
What it means to authorise an autonomous agent, and how the authorisation should expire.
The Boli AssociationAI verificationERC-8004agent identityAP2 mandates34 pagesRead → - Working paperMarch 2026
A taxonomy for asset representation on public chains
Separating legal wrapper, asset model, and token standard in tokenised real-world instruments.
The Boli AssociationTokenizationtokenizationRWAasset representation48 pagesRead → - Policy briefMarch 2026
Rethinking the 12(g) threshold for tokenised private issuances
When every holder is cryptographically identifiable, what does 'record holder' mean?
The Boli AssociationMarket structure12(g)Rule 12g5-1record holder22 pagesRead → - Research reportMarch 2026
Zurich as a settlement hub in the post-correspondent era
Swiss infrastructure, Swiss regulation, and the quiet emergence of a new clearing role.
The Boli AssociationStablecoinsSwitzerlandFINMADLT Act56 pagesRead → - Research reportFebruary 2026
Cryptographic attestation frameworks for AI-assisted compliance
How agentic systems can produce audit-grade claims about off-chain facts without eroding human accountability.
The Boli AssociationAI verificationAI verificationcryptographic attestationagentic compliance62 pagesRead → - Working paperFebruary 2026
Basket tokens versus share-class tokens: a design comparison
Two asset-model patterns, two sets of trade-offs, and why most production issuances get this choice wrong.
The Boli AssociationTokenizationasset modelbasket tokenshare class36 pagesRead → - Policy briefJanuary 2026
Regulated stablecoins as cash legs in DvP settlement
MiCA, the GENIUS Act, and the quiet convergence on a common settlement surface.
The Boli AssociationStablecoinsstablecoinsMiCAGENIUS Act28 pagesRead →