Tokenisation Shifts to Reality as Custodians Lead Adoption executes analysis move in analysis

Tokenisation Shifts to Reality as Custodians Lead Adoption, Broadridge Report Finds

Deal Background

This report from Broadridge, a leading financial technology provider, examines the state of tokenisation adoption across the global financial services industry. Based on a survey of 300 institutions in North America and Europe, the report provides insights into the motivations, challenges, and implications of the ongoing shift towards tokenised assets.

Buyer/Seller Motivations

• Custodians are leading the charge, with 91% citing improvements in efficiency, security, and innovation as key drivers for offering tokenised assets.
• Asset managers are accelerating their adoption, with 41% planning to launch tokenised products soon, driven by the need to stay relevant with a client base increasingly interested in digital assets.
• Wealth managers have taken a more cautious approach, with only 10% currently offering tokenised assets, due to concerns over operational complexity and potential disintermediation from direct-to-investor models.

Sector and Market Signals

The report highlights a widening gap between early adopters and non-adopters of tokenisation. Those leading the charge report an average of four to five tangible benefits, while those waiting report fewer than three perceived positives.

Broadridge’s Distributed Ledger Repo (DLR) solution, which supports the settlement of tokenised real assets, is noted as the largest institutional platform in this space, reporting daily processed trade volumes averaging $339 billion in September 2025.

Implications for Private Equity

The shift towards tokenisation has the potential to redefine global capital markets, enhancing efficiency, security, and accessibility for a new generation of investors. Private equity firms should closely monitor developments in this space, as tokenisation could open up new opportunities for fundraising, secondary market trading, and investor relations.

Immediate Outlook

While the benefits of tokenisation are clear, the report cites regulatory uncertainty as the biggest challenge, with 73% of institutions surveyed expressing concerns. Scaling tokenisation will require the development of common standards, regulatory clarity, and robust technology partners, as well as a cultural shift within financial institutions to integrate tokenisation as a core strategy.

Key Takeaways

• Custodians are leading the charge in tokenisation adoption, driven by improvements in efficiency, security, and innovation.
• Asset managers are accelerating their adoption of tokenised products to stay relevant with a client base increasingly interested in digital assets.
• Regulatory uncertainty remains the biggest challenge for widespread tokenisation adoption, highlighting the need for clear standards and guidelines.

Sources

• The Fintech Times