Tokenization’s first wave wrapped existing assets in digital form. The next wave originates securities natively on-chain, with issuance, ownership records, compliance and servicing built into the instrument itself from day one. That shift moves value away from traditional custody and processing and toward origination, distribution and lifecycle management.

Issuers, banks, transfer agents and tokenization platforms bringing bonds and equities to market on-chain will discuss cover native issuance and its legal foundations, on-chain transfer agency and recordkeeping, and corporate actions such as coupons, dividends and redemptions executed through smart contracts. They’ll also address the controls that keep native securities compliant, including investor eligibility, transfer restrictions and identity-based allow listing. 

Panelists will also tackle the question that determines whether native issuance scales: can these instruments attract real secondary market liquidity, and what will it take to move from showcase deals to routine issuance? They will also consider:

• Is native issuance delivering real advantages over traditional and wrapped securities, or is it still at the showcase stage?
• How do eligibility and transfer controls work when compliance lives inside the asset?
• What will it take to build deep secondary liquidity for securities born on-chain?