Apex Group Ltd. ("Apex Group"), a global financial services provider with over $3.5 trillion in assets serviced, today publishes new research revealing that tokenisation has moved well beyond proof of concept across the asset management industry.
Tokenisation gaining altitude, developed in partnership with Mergermarket, draws on a survey of 100 senior executives across asset and fund managers globally.
With expertise across more than 50 jurisdictions, Apex Group delivers fund administration, middle-office, and technology services to asset managers, financial institutions, and corporates worldwide.
Half of respondents report that their organisation has introduced tokenisation in some form, including 17% with broad deployment and 33% with limited use. The remaining 50% are at the proof-of-concept stage. Among firms with more than US$5 billion in assets under management, 55% describe tokenisation as very important to their business strategy, with a further 9% identifying it as a top priority.
The dominant driver is access, not efficiency. 42% of respondents cite broadening the investor base as their primary objective, well ahead of operational efficiency and cost reduction. Interest is led by high-net-worth individuals, with 63% of respondents identifying them as the most engaged investor group.
Private markets are the clearest entry point. 45% of firms have already tokenised private market assets, with private equity and private credit leading early adoption due to high entry thresholds and limited liquidity.
Implementation and infrastructure costs are identified as the most significant internal challenge, with 39% of respondents citing this as their primary obstacle. Externally, a lack of market standardisation, cybersecurity risk, and regulatory uncertainty remain key concerns.
Operational readiness is also uneven. Only 7% of respondents describe themselves as fully confident in their technical teams, and reliance on third-party providers is widespread, with most firms outsourcing elements of their tokenisation strategy.
Angie Walker, Commercial Head of Apex Digital, Apex Group, said:
“There is a clear view in the asset management space that tokenisation has achieved a credibility threshold. A couple of years ago, this was still predominantly a conversation about proof-of-concept projects driven through regulatory initiatives like Project Guardian by the Monetary Authority of Singapore, and now tokenisation is a pivotal part of these firms’ business strategies.”
Tom Bennett, Global Head of Fintech, Apex Group, said:
“Moving from pilot projects to full deployment requires a multi-dimensional approach; the key is to engage and educate people early and to embed the technology into your governance practices and day-to-day operating models. To succeed, firms must treat tokenisation as a business transformation exercise, not just another tech-integration project.”
The report also highlights the role of outsourcing in implementation. Almost all respondents rely on third-party providers to some degree, reflecting the complexity of integrating tokenisation across custody, compliance, and operational processes.
Tokenisation gaining altitude is available now and is aimed at asset managers, fund managers, general partners in private markets, and institutional investors seeking to understand how tokenisation is shaping asset management - and where the next phase of institutional adoption is headed.
Newsroom
Marion Janic I Head of Media Relations
About Apex Group
Apex Group is dedicated to driving positive change in financial services while supporting the growth and ambitions of asset managers, allocators, financial institutions, and family offices. Established in Bermuda in 2003, the Group has continually disrupted the industry through its investment in innovation and talent.
Today, Apex Group sets the pace in fund and asset servicing and stands out for its unique single-source solution and unified cross asset-class platform which supports the entire value chain, harnesses leading innovative technology, and benefits from cross-jurisdictional expertise delivered by a long-standing management team and over 13,000 highly integrated professionals.
Apex Group leads the industry with a broad and unmatched range of services, including capital raising, business and corporate management, fund and investor administration, portfolio and investment administration, ESG, capital markets and transactions support, as well as digital and AI solutions. These services are tailored to each client and are delivered both at the Group level and via specialist subsidiary brands.
The Apex Foundation, a not-for-profit entity, is the Group’s passionate commitment to empower sustainable change.
