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How to tokenise a fund
The route in, whichever fund you start with.
UCITS AND MMFS
How to tokenise a share class
How to tokenise an ETF
How to tokenise a MMF
ALTERNATIVE FUNDS (AIFS)
How to tokenise a bulletin board
SECURITISATION VEHICLES
How to tokenise an SPV

Same rails, every fund type. Start from the fund you have, not the technology.

Not sure where you fit? Talk to us
MIFID II INVESTMENT FIRM / CONTROL AGENT / TRANSFER AGENT

Access new markets through tokenisation.

One regulated firm. Our own technology. Your securities issued on-chain and live on new marketplaces.

ASSET MANAGER
Your fund
Class T
SHARE CLASS
TO TOKENISE
Investre OWN STACK
01 / ISSUANCEQUEUED
Digital issuance
Your share class issued on-chain
CONTROL AGENTTRANSFER AGENT
CSSF-SUPERVISED / MIFID II · CA · TA
DESTINATION
New
marketplaces
Regulated digital venues
WAITING
STARTINGTHE ROUTE · ILLUSTRATIVE
↻ REPLAY
CONTROL AGENT/TRANSFER AGENT/ORDER ROUTING/AML / KYC/SETTLEMENT/NEW MARKETPLACES/DISTRIBUTION/
WHY IT IS HARD TODAY

Six firms. Six copies of one register.

Transfer agents, distributors, custodians and platforms each do a job the fund needs. Each also keeps its own register, and reconciles it against everyone else’s, every day.

On a shared ledger they keep their roles and work from one record, with full legal standing. That takes a licence to hold the record and the technology to run it. We have both.

0x7A41…4E21,250.000 unitsMINTED
0x9C08…B17480.500 unitsTRANSFERRED
0x2FD5…09A96.000 unitsREDEEMED
SETTLEDPAID

THE RECORD · ILLUSTRATIVE REGISTER VIEW

03
THE LICENCES / THREE CSSF AUTHORISATIONS

Regulators trust us. Three times over.

Each one earned through CSSF review. Together they let us put dematerialised shares on-chain as control agent, and registered shares as transfer agent. No other firm does both. What used to sit with several providers now sits with one.

AUTHORISATION 01
MiFID II investment firm
Safekeeping and administration of financial instruments, traditional and digital-native.
AUTHORISATION 02
Control agent, blockchain law IV
Dematerialised shares issued directly on-chain. First licence granted in Luxembourg.
AUTHORISATION 03
Transfer agent
Registered shares, with tokens representing each position in the register.
THE TECHNOLOGY

The whole stack,
built in-house.

Every token we issue runs on smart contracts we write or choose. Subscriptions, redemptions and transfer checks run on their own. Our APIs plug the platform into your transfer agent, distributors and trading venues.

01

Smart contracts, in-house. Issuance, transfer rules, corporate actions and redemptions. Written or chosen, tested and maintained by our engineers.

02

Compliance, automated. Every transfer is checked. An unverified wallet is refused on-chain, before anything settles.

03

Connected by API. Register, identity, wallets and settlement on one platform. APIs into transfer agents, distributors and 21X.

ERC-3643ERC-1400ERC-20PUBLIC & PERMISSIONED EVMREST API
ANATOMY OF A FUND TOKEN EVERY LAYER BUILT BY INVESTRE
Fund A · Share class T ERC-3643
Issuer
Fund A SICAV
Register
Control agent
NAV
Daily
canTransfer(0x9C08…B17 → 0x2FD5…09A, 250.000)
→ investor verified · eligible · within limits ✓ settles
POST /subscriptions · NAV 102.41 → minted 250.000 · T+0
Smart contract Issuance, transfer rules, corporate actions, per share class BUILT IN-HOUSE
Compliance rules Eligibility, whitelisting and limits enforced on every transfer IN THE CONTRACT
Register The on-chain register of securities, kept by us as control agent REGULATED
Identity & AML / KYC Verified investors mapped to the wallets allowed to hold ON-CHAIN
Wallets & keys Keys in certified hardware, segregated per client SAFEKEEPING
Settlement & connectivity Fiat, stablecoin or tokenised MMF; APIs to TAs, distributors and 21X T+0
ILLUSTRATIVE TOKEN · NETWORK CHOSEN PER MANDATE
THE SERVICES

Take the whole chain, or a single link.

Dematerialised or registered shares, under Luxembourg law. One set of licences, one codebase. Take as much of the route as you need.

PROOF

Live today. With names you know.

Built by fund operators

Founded in 2020 by Georges Bock, former Managing Partner at KPMG Luxembourg. Fund administration, banking and ledger engineering in one team.

Seamless connectivity to legacy

The fund keeps how it runs today. We connect to it, move investor journeys onto new rails, and open up what those rails make possible.

Operational since 2024

Issuance, registry, safekeeping and settlement are live. Asset managers, banks, distributors and fund admins are onboarding now.

WORKING WITH
FRANKLIN TEMPLETONSCHRODERSNORDEADNCA INVESTMENTSALKEN FUNDCANDRIAM21XFRANKLIN TEMPLETONSCHRODERSNORDEADNCA INVESTMENTSALKEN FUNDCANDRIAM21X
157FUNDS LIVE
3,000+TOKENISATIONS
FAQ

The first meeting, answered in advance.

What asset managers, banks and distributors ask first.

All questions →
What is a control agent?+

A CSSF-authorised role created under Luxembourg's blockchain law IV for dematerialised shares. The control agent issues a fund's dematerialised shares directly on-chain, maintains the issuance account and the register of on-chain securities, enforces the compliance rules and verifies the custody chain. Investre was the first firm authorised as a control agent in Luxembourg.

Can Investre act as transfer agent?+

Yes, for registered shares. Investre holds a transfer agent licence alongside its control agent authorisation, so it can keep the register of a fund with registered shares and issue the tokens that represent them on-chain.

When do I need a control agent, and when a transfer agent?+

It depends on the form of the shares. Dematerialised shares issued under blockchain law IV need a control agent, and the on-chain register is the legal record. Registered shares need a transfer agent, and the token represents a position in that register. Investre can act as either, so the choice follows the fund’s documents rather than your provider.

Can an existing fund use Investre without restructuring?+

Yes. A fund with registered shares keeps its register, and Investre, as transfer agent, issues tokens that represent those shares on-chain. Nothing is re-issued and no new licence is needed. A fund that wants its shares to exist on-chain in dematerialised form can do that too, with Investre as control agent.

Which security types are supported?+

Fund shares across UCITS, ETFs, money market funds and alternative funds, notes issued by securitisation vehicles, and bonds and equities. Same infrastructure, different use case per structure.

Is Investre a crypto company?+

No. Investre S.A. is a Luxembourg investment firm authorised by the CSSF under MiFID II, a licensed control agent under blockchain law IV and a licensed transfer agent. It builds and runs its own blockchain infrastructure for capital markets, not a speculative asset class.

Does Investre use a third-party tokenisation platform?+

No. The smart contracts, the register, the compliance rules, the wallets and the settlement layer are built and operated by Investre’s own engineering team. The firm that holds the licences is the firm that runs the code.

Are only stablecoins acceptable as payment?+

No. Settlement can stay off-chain in fiat, so nothing changes for the investor, or it can run on-chain against stablecoins or tokenised money market funds where both sides want same-day finality.

Where do I sell my investment?+

Investre connects you to new marketplaces, including regulated digital exchanges, and to the traditional markets and distributors you already sell through. A fund unit held in a regulated Investre wallet can be subscribed, transferred between eligible wallets and traded on a regulated European venue, while remaining the same regulated fund unit throughout.

Can an existing fund add a digital share class without converting the fund?+

Yes. A digitally native share class can be launched within an existing fund. The investment strategy, portfolio management, depositary and product framework stay unchanged. What changes is the infrastructure through which that share class is issued, held, distributed and, where appropriate, traded on a regulated secondary market.

Do I need to launch an ETF to make my fund tradable?+

Not necessarily. A conventional ETF needs its own operating model: authorised participants, creation and redemption, basket information and additional settlement processes. A digital share class reuses the existing UCITS and adds an issuance and trading layer, which makes exchange tradability viable for strategies that do not have the scale to justify a full ETF.

Can retail investors access tokenised funds, or only institutions?+

The infrastructure is built for both professional and retail investors. Every investor and wallet still has to meet the applicable AML / KYC, MiFID, product governance and fund distribution requirements, and access to a given fund depends on where it is registered and its target market. Those rules are coded into the token itself.

STAY UP TO DATE WITH TOKENISATION

Two ways to keep up. Neither is noise.

A weekly briefing in your inbox. A podcast with the people writing the rules and running the funds.

WEEKLY NEWSLETTER

The Source

The week’s tokenisation news that moved something, and what it means for fund operators. No link dumps.

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PODCAST / EVERY OTHER WEEK

The Final Block

Georges Bock with the regulators, lawyers and asset managers building tokenised funds. Candid on what works, and what doesn’t.

Listen to episodes→

Tell us what you have. We will tell you how to work it.

A fund, a share class or another security. Forty minutes: how it gets on-chain, where it sells, how it settles.

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