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Infrastructure for Tokenized Assets

Examined the infrastructure behind tokenized funds, collateral, and real-world assets, including operating models, points of failure, and emerging approaches.

Status: GSMI 7.0 research cycle — concluding in 2026

Co-chairs

Rajeev Bamra, Head of Strategy, Digital Economy at Moody's Ratings

Rajeev Bamra

Head of Strategy, Digital Economy

Moody's Ratings

Thomas Sullivan, Executive Director, Digital Assets at DTCC

Thomas Sullivan

Executive Director, Digital Assets

DTCC

Joseph Spiro, Director, Digital Assets Product at DTCC

Joseph Spiro

Director, Digital Assets Product

DTCC

What this group worked on

  • Blockchain-native vs. RWA tokenization models
  • Custody, issuance, and asset servicing
  • Interoperability with legacy post-trade

Outputs

Tokenization infrastructure landscape
Navigation framework for market participants

Frequently asked questions

What was the Infrastructure for Tokenized Assets working group?
Infrastructure for Tokenized Assets was part of the Global Standards Mapping Initiative (GSMI) 7.0 research cycle. Examined the infrastructure behind tokenized funds, collateral, and real-world assets, including operating models, points of failure, and emerging approaches.
Who contributed to the Infrastructure for Tokenized Assets working group?
The group was co-chaired by Rajeev Bamra (Head of Strategy, Digital Economy, Moody's Ratings), Thomas Sullivan (Executive Director, Digital Assets, DTCC), and Joseph Spiro (Director, Digital Assets Product, DTCC), with a working group comprised of GBBC's members and community.
What is the status of the Infrastructure for Tokenized Assets working group?
This GSMI 7.0 working group is concluding its research cycle in 2026. GSMI 8.0 will convene a new set of working groups.
What did the Infrastructure for Tokenized Assets working group produce?
A report will be published soon with a tokenization infrastructure landscape and navigation framework for market participants, exploring custody, issuance, and asset servicing, interoperability with legacy post-trade.
Can I join the Infrastructure for Tokenized Assets working group?
No. GSMI 7.0 working groups are wrapping up and are no longer accepting participants. GSMI 8.0 will have a new set of working groups.