FMIs’ blueprint for digital asset adoption

By 2030, the tokenisation of global illiquid assets is projected to be a $16 trillion business opportunity. However, progress on institutional adoption has reached an inflection point as firms continue innovating in silos, with small-scale initiatives that fail to progress or prioritise broad ecosystem development. In this context, Financial Market Infrastructures (FMIs) have a crucial role to play. 

FMIs – historically, the linchpins of the financial system, facilitating clearing, settlement and record-keeping – are now supporting the integration of digital asset securities into the conventional financial fabric. 

We have collaborated with DTCC and Clearstream – with the support of Boston Consulting Group – to lay out a blueprint to advance industry-wide adoption of digital assets.

Driving widespread adoption of digital assets

This paper, published in 2026, offers the framework to address one of the most pressing hurdles to achieving scale in digital asset markets: fragmentation across emerging distributed-ledger technology (DLT) networks.

The framework outlines 5 core capital market foundations.

Increased interoperability is a prerequisite for DAS adoption at scale.
Interoperability extends beyond cross-DLT data integration.
Interoperability requires industry-wide effort.
Interoperability should be advanced through a value-led approach.
Collective action today will shape resilient markets tomorrow.

Explore the framework

Digital Asset Securities Control Principles (DASCPs)

The 6 principles to ensure a safe and efficient ecosystem include:

legal certainty
regulatory compliance
resilience & security
safeguarding customer assets
connectivity & interoperability
operational scalability

All three FMIs are committed to integrating the DASCPs into their digital ecosystems to accelerate progress towards integrated traditional and DLT networks on a global scale.

Find out more about DASCPs

The state of digital asset evolution

The paper, published in 2023, calls for increased collaboration to progress an ecosystem that includes fragmented standards, varying regulatory treatment and limited integrations with institutional-grade payment rails and siloed liquidity – all limiting factors to the further digitalisation of global financial markets.

Download the paper