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Tokenised assets have drawn serious institutional momentum, but almost none of it has reached SME capital markets. The gap is no longer proof of concept; tokenised receivables and invoices have been demonstrated for years. It is fragmentation. Competing ledgers that cannot share data are rebuilding the silos of traditional SME finance at higher infrastructure cost, while the instruments where programmability would genuinely change the economics.
This panel examines which tokenised SME asset classes have actually reached production and what made them viable; the ownership, custody and transfer-right frameworks institutional capital needs in emerging markets; and the interoperability standards still missing.
