Scaling Alternatives with Tokenised Fund Structures
In the latest edition of the AIMA Journal, Aaron Mulcahy and Lorna Smith provide their expert insight on how tokenisation is taking investment funds from pilot to production, highlighting the efficiencies and new market access it enables, the interoperability and compliance hurdles, and the evolving regulatory and best‑practice landscape.
- Published
- in Technical Publications
In the latest edition of the AIMA Journal, Aaron Mulcahy and Lorna Smith provide their expert insight on how tokenisation has moved from pilots to production in investment funds, led by money market funds and nascent ETF initiatives, unlocking efficiency, liquidity and real-time transparency on DLT, with alternatives poised to follow. They outline the key hurdles to safe scale, including interoperability and liquidity formation, AML / KYC and operational resilience, and jurisdictional alignment across the EU, Cayman Islands, BVI and Jersey, while setting out emerging best practice around permissioned architectures, strong governance, secure custody and digital cash to enable atomic settlement.
Read Scaling Alternatives with Tokenised Fund Structures in full.
Aaron and Lorna’s contribution formed part of the AIMA Journal Edition 144, first published in November 2025.
