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Tokenized assets are classified into two categories based on whether the token can be (1) moved to a wallet outside of the issuing platform, and (2) transferred peer-to-peer between wallets.

Distributed Assets

Tokenized assets that can be moved to wallets outside the issuing platform and transferred between wallets, including those with whitelist or eligibility controls. The blockchain serves as a channel for capital formation, enabling issuers to reach investors directly onchain.

Represented Assets

Tokenized assets that cannot be moved to wallets outside the issuing platform or transferred between wallets, whether due to design or regulatory constraints. The blockchain serves as a recordkeeping and reconciliation layer for institutional participants.

Reclassification

These categories are not static. Represented Assets can be reclassified as Distributed Assets if they become movable and transferable.

Platform Impact

All tokenized asset league tables and time-series charts on our platform offer three views: Distributed Assets, Represented Assets, and All Assets. Distributed is the default view.
Classifications may change as new information becomes available.

Further Reading