Tokenized Markets: Liquidity, Custody and Portfolio Design

Tokenised assets are beginning to reshape how portfolios are built, distributed, and safeguarded, moving beyond pilots into real-world implementation for professional investors. The discussion focuses on how tokenisation alters fund structures, improves or challenges liquidity, and enables fractional access to previously illiquid or alternative assets, while introducing new models for custody and key management across public and permissioned chains.
Key themes include the role of digital money and tokenised cash in primary issuance, secondary trading, and settlement, and their implications for NAV calculation, intraday liquidity, and operational risk. The session also explores how existing compliance, risk, governance, and custody frameworks can be adapted to accommodate tokenised instruments, and what this means for product design, distribution channels, and the future architecture of asset management in Asia and globally.