Citi, Deutsche Bank, Mastercard, Northern Trust, and Centrifuge have outlined key strategies for secure, multichain asset tokenisation in a new report by the Axelar Foundation and Metrika. The report, titled “Institutional Interoperability: How Financial Institutions Navigate a Multichain World,” discusses the need for increased accessibility, liquidity, and scalability of tokenised assets, which represent financial assets such as real estate, currencies, and securities on blockchain.
The report highlights the growing significance of tokenised assets, with Boston Consulting Group and market operator ADDX predicting their value will reach trillions of dollars within the next decade. To achieve this potential, the paper stresses the importance of interoperability between public blockchains, private blockchains, and traditional financial systems.
Citi, Deutsche Bank, Mastercard, and Northern Trust contributed insights on their asset tokenisation projects, the use of multiple blockchains, and the challenges of blockchain interoperability. Web3 innovators Axelar Foundation, Centrifuge, and Metrika also provided input.
Roadmap
The report serves as a roadmap for financial institutions navigating the complex landscape of tokenised assets and various blockchain technologies while complying with stringent client and regulatory demands. Authored by blockchain analyst Emily Parker, the paper builds on the framework established by the Monetary Authority of Singapore’s Project Guardian in 2023.
