Fireblocks has joined the Swiss-based Capital Markets and Technology Association (CMTA), an independent association formed by leading participants in the financial, technological, and legal sectors to create common standards around issuing, distributing, and trading securities in the form of tokens using distributed ledger technology (DLT).
As a key global player in the digital asset space, Fireblocks, alongside leading organizations in the Swiss finance and technology ecosystem, will collaboratively develop and define standards relating to the tokenization of traditional financial instruments.
Among these projects is the CMTA Token (CMTAT), an open standard for smart contracts designed specifically for the tokenization of financial instruments. It is a framework that defines necessary and optional functions that can be used for tokenizing equity and debt securities under Swiss law.
Fireblocks has already worked extensively with the CMTAT on client engagements, and has integrated open source smart contracts into the Fireblocks Tokenization Engine, enabling businesses to deploy and manage the CMTA’s smart contracts directly from the Fireblocks platform.
This makes it simple for participants in the tokenization value chain to seamlessly and securely work with products issued to the CMTA standards by other participants. The CMTAT is one of the token standards available in the Fireblocks Tokenization marketplace. Businesses can utilize it when creating their tokenization solution using the Fireblocks Tokenization Engine.
Francois Schonken, Fireblocks’ Senior Director for Tokenization, also joins the CMTA Technical Committee, which is responsible for overseeing the technological aspects of its standardization projects.
We are delighted to join the CMTA to help define industry standards to facilitate the use of blockchain technology in capital markets. As a rapidly growing number of Swiss banks and financial institutions explore ways to tokenize financial assets, the development of tokenization standards and best practices from a technical, legal, and operational standpoint will allow them to harness the benefits of tokenization and further promote the adoption of digital assets in Switzerland and further afield.
Find out more about how to launch and manage any tokenization solution for your business:
