Resources
Plain language, no projections.
Reference material for directors and management evaluating tokenization. Nothing here forecasts returns, liquidity, or market behaviour.
Explainer
What tokenization is — and what it isn't.
It is
- A change in how ownership of existing shares is recorded and transferred.
- A registry function operated by an SEC-registered digital transfer agent.
- A 1:1 representation of outstanding common shares already on the register.
- An additive layer that leaves the incumbent transfer agent relationship intact.
It is not
- A new security, a new share class, or a derivative of existing shares.
- A fundraising event, token sale, or offering of any kind.
- A replacement for exchange listing, reporting, or disclosure obligations.
- A guarantee of liquidity, valuation, or any particular market outcome.
Glossary
Terms you will encounter.
- Transfer agent (TA)
- The registrar that maintains a company's official record of shareholders and processes transfers, issuances, and cancellations.
- Digital transfer agent
- A transfer agent registered with the SEC that maintains the book of record using distributed-ledger infrastructure in addition to conventional systems.
- Book of record
- The authoritative register of who owns the company's shares. Entitlements — voting, distributions — are determined from it.
- 1:1 tokenization
- Representing each outstanding share as exactly one on-chain record tied to the register, with no wrapper or synthetic instrument in between.
- Synthetic / wrapped token
- A token that references a security indirectly rather than representing registered ownership. Not what is described anywhere on this site.
- Settlement
- The completion of a transfer of ownership. On digital TA infrastructure, settlement can occur continuously rather than on a fixed cycle.
- Record date
- The cut-off date used to determine which holders are entitled to vote at a meeting or receive a declared distribution.
- Corporate action
- Any company event affecting the register — consolidations, splits, distributions, or the issuance of new shares.
- Continuous disclosure
- The ongoing obligation of a listed issuer to publicly disclose material information as it arises.