Tokenised real-world assets and deposits have crossed the $100 billion mark, as of 14 April 2026. The shift is no longer experimental. It is now entering institutional scale.
Major players are already active. BlackRock, Franklin Templeton, and JPMorgan operate live tokenised funds. The New York Stock Exchange is developing a blockchain-based venue for 24/7 trading of tokenised securities.
In Europe, a consortium of six major UK banks, including HSBC, Barclays, and Lloyds, is piloting tokenised sterling deposits using Quant Network infrastructure. Meanwhile, the DTCC has received SEC approval to support the tokenisation of real-world assets starting mid-2026.
These moves show how traditional finance is embedding blockchain rails into regulated market structures. The scale is expanding quickly across asset classes, including bonds, funds, and deposits. Institutions are testing settlement efficiency, liquidity improvements, and faster collateral movement.
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Institutional systems face an integration challenge
Despite rapid growth, the core challenge remains operational. Banks must connect tokenised assets to existing trading desks, risk engines, and post-trade systems without replacing them. This is the central bottleneck in adoption.
Murex addresses this need through its MX.3 solution. With more than 300 clients from 65 countries and over 60,000 users per day, MX.3 is a proven system for managing trading, risk, and post-trade operations.
Within MX.3, Murex supports digital assets, including tokenised bonds and smart contracts replicating OTC payoffs. Ten customers have already deployed their products with use cases in production, while more than forty institutions are currently in the pipeline.
The adoption of digital assets has expanded to different geographical locations. Initially, there was interest in APAC and the US. Over the past year, Europe has gradually leaned towards tokenization of collateral, lending, and CBDC-related systems.
Murex and Quant build a programmable infrastructure layer
The collaboration between Murex and Quant incorporates programmable money in MX.3 through leveraging the power of Quant’s Flow and Overledger, allowing for issuance, settlement, and governance of tokenized assets in the existing environment.
The system was deliberately created using loose coupling. MX.3 will not couple itself only to one custody service. Rather, it will use Overledger to connect with a whole ecosystem of custody services in different regions around the world.
Compliance layering is still employed by MX.3. Pre-trade validations are executed before any message is transmitted, while post-trade validations are performed once there are blockchain events that have occurred. The custody layer will be responsible for signing and security tasks.
Regulation continues to shape the course of adoption. Europe is at the forefront with MiCA, facilitating the issuance of tokenized bonds, funds, and gold. Asia-Pacific is following suit with strong momentum, supported by MAS in Singapore. The US is seeing progress with regulations on stablecoins making institutional cases possible.
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