Tokenization platforms are the software that issues, records and services tokens standing for funds, stocks, loans and repo collateral. This guide lists 11 tokenization platforms and, for each, the token standard it publishes, the chains it names, the regulated entity behind it, how custody works and where its API docs sit. The order is alphabetical and carries no meaning.
How this list was built
Each platform here issues or services tokens for institutional assets and publishes something a reader can check: a token standard or protocol module, the chains it supports, a regulator’s record of the entity behind it, or developer documentation. Facts come only from provider pages, API docs, regulator registers and SEC filings. “Not published” means the fact was not found in those places when the pages were read on August 11, 2026. Firms that mainly issue their own tokenized funds, such as Ondo and Superstate, sit in the list of tokenization companies. There are no picks and no ranking here, and none of this is investment or legal advice.
What a tokenization platform does
The work sits between an issuer’s decision and a holder’s wallet: minting and burning tokens, deciding who may hold them, enforcing transfer rules, running distributions and redemptions, linking to custody, and keeping the chain record in step with a transfer agent or a depository. The layers underneath are covered in our explainer on rwa tokenization.
How much control the issuer keeps is written into the documentation. Tokeny’s ERC-3643 pages say the issuer or its agent can mint, burn, block or force transfers at any time, and that lost tokens can be recovered in a new wallet on proof of identity. Securitize’s DSToken v4 repository adds a Transfer Agent role that “Manages compliance rules and token-level configuration.” On Polymesh, issuers write rules against identity claims such as KYC, accreditation and jurisdiction, checked on every transfer by an on-chain Compliance Manager module.
Token standards behind the platforms
A token standard is a shared set of smart-contract functions that wallets, custodians and exchanges can rely on. ERC stands for Ethereum Request for Comments, a numbered Ethereum standard. A permissioned token is one that only wallets passing checks, such as KYC, accreditation or jurisdiction, can hold or receive. Several platforms support more than one standard.
- ERC-3643 (T-REX). Tokeny’s open-source suite for permissioned tokens, recognized as ERC-3643 in September 2021. Holders are tied to on-chain identities through ONCHAINID, and the documentation states that “ERC-3643 tokens maintain compatibility with existing ERC-20 platforms and tools.”
- DS Protocol. Securitize’s protocol, announced on June 5, 2018, with DS Tokens as an ERC-20 extension; the v4 implementation can be deployed on any compatible EVM chain.
- ERC-1400. A security token family Polymath says it contributed; Fireblocks and Taurus both list support for it.
- ERC-7518 (DyCIST). Zoniqx’s standard, created as an EIP on September 14, 2023, extends ERC-1155 with partitions, token locking, address freezing, forced transfers for recovery and payouts.
- CMTAT. The Swiss association CMTA’s framework for tokenizing equity and debt. CMTA writes that “CMTAT is not an ‘ERC’ and is therefore not tied to Ethereum.”
- Protocol-level models. “Polymesh defines its asset standard directly in the blockchain runtime,” its developer docs say, with ISIN, CUSIP, LEI, CINS or FIGI identifiers available. Provenance issues restricted coins from its marker module, movable only with a transfer agent permission. Kinexys uses ODA-FACT, “developed by Kinexys to provide a consistent way of representing fungible financial assets”. Broadridge’s DLR runs Daml contracts on Canton, and Centrifuge combines ERC-20 share tokens with ERC-1404 checks and ERC-4626, ERC-7540 and ERC-7575 vaults.
Tokenization platforms compared
The order is alphabetical and carries no meaning. Each cell states what the provider publishes.
| Platform | What it does | Token standard (as published) | Chains (as published) |
|---|---|---|---|
| Broadridge DLR | Settles repo trades with tokenized collateral inside firms’ existing trading and post-trade systems | Daml contracts; its product page says “Built on Canton Technology” | Canton |
| Centrifuge | Issues and distributes fund share tokens across chains, with pool accounting on a hub chain | ERC-20 share tokens with ERC-1404 checks; ERC-4626, ERC-7540, ERC-7575 vaults | Hub and spoke: Ethereum, Base, Arbitrum and other supported networks |
| DTCC Tokenization Service | Records participants’ entitlements to DTC-held securities as tokens in registered wallets | Not published; DTCC smart contracts, and the tokenized version keeps the same CUSIP | Besu-based private network and Canton used on July 15, 2026; pre-approved blockchains |
| Fireblocks | Deploys and manages tokens from its console or API, alongside custody and wallets | ERC-20 with its own ERC20F template; supports ERC-1400 and ERC-1404 formats | All EVM chains Fireblocks supports, plus Stellar and Ripple |
| Kinexys Digital Assets (J.P. Morgan) | Bank-run multi-asset platform for tokenized money market funds, repo, collateral and funds | ODA-FACT | EVM-based permissioned blockchain; MONY on public Ethereum |
| Polymesh (Polymath) | Layer 1 for regulated assets, with identity, compliance and settlement in the runtime | Protocol-level asset standard, no per-token contract | Polymesh; no native cross-chain bridges |
| Provenance Blockchain (Figure) | Layer 1 recording loans, fund interests and equity issued through OPEN | Marker module restricted coins and metadata scopes | Provenance Blockchain |
| Securitize | Issues tokenized funds and equities, keeps the transfer agent record, distributes and trades them | DS Protocol; DSToken v4, an ERC-20 compatible token | “Fifteen major blockchains” (October 2025); BUIDL share classes on Ethereum, Aptos, Arbitrum, Avalanche, OP Mainnet and Polygon |
| Taurus-CAPITAL (Taurus SA) | Issuance and lifecycle platform for banks, with custody and OTF trading on TDX | Templates for CMTAT, ERC-3643, ERC-1400, SPL, ERC-721 and ERC-1155, plus custom ERC-20 | Ethereum, Polygon, Optimism, Avalanche, Stellar, Solana, ICP, Tezos; Besu, Canton, Quorum |
| Tokeny (Apex Group) | White-label issuance and servicing platform, plus APIs | ERC-3643 (T-REX) with ONCHAINID | Any EVM chain; optimized for Ethereum, Polygon and Avalanche, Tokeny said in May 2023 |
| Zoniqx | Tokenization platform and distribution network | ERC-7518 (DyCIST), extending ERC-1155 | Ethereum, Polygon, Avalanche; XRPL, Hedera and Midnight named as partners |
Licenses, custody and API docs
Only some of these platforms appear in a regulator’s record under their own name. SEC EDGAR lists Securitize Transfer Agent, LLC under transfer agent file 084-06638, with a TA-2 filed on March 31, 2026, and FINRA’s BrokerCheck report covers Securitize Markets, LLC, CRD 283256. ESMA’s January 2026 list of authorised DLT market infrastructures shows Securitize Europe DLT TSS, operated by Securitize Europe Brokerage and Markets SV SA and authorised by Spain’s CNMV from November 26, 2025. Figure’s 2025 annual report says the company is “an SEC-registered broker-dealer with authority to operate an alternative trading system.” New York’s DFS register lists Fireblocks Trust Company, LLC with a limited purpose trust charter dated August 2024, and Taurus said in January 2024 that Taurus SA is a securities firm supervised and regulated by FINMA.
| Platform | Regulated entity (as published) | Custody | Published clients or products | API docs |
|---|---|---|---|---|
| Broadridge DLR | Not published | Not published | Not published by name; $8.0 trillion of repo in July 2026 | Not published |
| Centrifuge | Not published | Not published | Janus Henderson with Anemoy and Centrifuge, September 13, 2024 | docs.centrifuge.io |
| DTCC Tokenization Service | DTC, under SEC staff’s no-action letter of December 11, 2025 | DTC holds the securities; tokenized entitlements sit in a Digital Omnibus Account | More than 30 firms in the July 15, 2026 production trades | Not published |
| Fireblocks | Fireblocks Trust Company, LLC, limited purpose trust charter, NYDFS register, August 2024 | Fireblocks Trust and MPC wallets | Not published | developers.fireblocks.com |
| Kinexys Digital Assets | A J.P. Morgan business unit; separate registration not published | Not published | MONY through Morgan Money (December 15, 2025); Kinexys Fund Flow | Not published |
| Polymesh (Polymath) | Not published | Not published; identity-bound portfolios on chain | tZERO partnership, December 10, 2025 | developers.polymesh.network |
| Provenance Blockchain (Figure) | Figure: SEC-registered broker-dealer with ATS authority (2025 annual report) | Not published | DART, Figure Connect, OPEN, YLDS | docs.provenance.io |
| Securitize | Securitize Transfer Agent, LLC, SEC file 084-06638; Securitize Markets, LLC, CRD 283256; Securitize Europe DLT TSS under CNMV | Not published for the platform itself | BlackRock’s BUIDL; Apollo, Hamilton Lane, KKR and VanEck named in an October 2025 release | github.com/securitize-io |
| Taurus-CAPITAL (Taurus SA) | Taurus SA, a securities firm supervised by FINMA (company statement, January 2024) | Taurus-PROTECT, using HSMs and MPC | TDX issuers named in January 2024: Investis Group, la Mobilière, Qoqa, SCCF, Swissroc, Teylor | Not published |
| Tokeny | Not published | Connects to regulated custodians and non-custodial wallets | Over $32 billion tokenized, a company figure from May 2025 | docs.tokeny.com |
| Zoniqx | Not published | Not published | Not published | Not published |
What changed in 2025 and 2026
The largest published volumes are in repo, not in funds. Broadridge said on August 10, 2026 that its Distributed Ledger Repo platform processed an average of $365 billion of repo a day during July 2026, $8.0 trillion for the month, with the daily average up 28% year over year. Broadridge calls DLR “the world’s largest institutional platform for settling tokenized real assets,” a company claim.
The US depository is moving as well. SEC staff in the Division of Trading and Markets issued a no-action letter to DTC on December 11, 2025 for a preliminary version of a tokenization service, letting DTC Participants hold security entitlements as tokens in registered wallets. DTCC says the relief runs for three years on pre-approved blockchains and covers Russell 1000 stocks, ETFs tracking major indices, and US Treasury bills, bonds and notes. On July 15, 2026, DTCC converted DTC-held assets into tokens used in real production trades with more than 30 firms taking part, on LFDT’s Besu, its private network, and on Canton. DTCC says it plans to launch the service in October 2026.
Among the platforms themselves, J.P. Morgan Asset Management launched My OnChain Net Yield Fund (MONY) on public Ethereum on December 15, 2025, powered by Kinexys Digital Assets, as a Rule 506© private placement for qualified investors through Morgan Money, with subscriptions and redemptions in cash or stablecoins. Kinexys says in its 2024 Project Epic paper that it built on an EVM-based permissioned blockchain in 2020 and had facilitated trading and settlement worth over $1.5 trillion. Polymath launched Confidential Assets on Polymesh on May 27, 2026, adding zero-knowledge privacy for positions and counterparties, and says Polymesh achieved SOC 2 Type 1 in 2025.
