Commerce & Finance · Recorded milestone
Early tokenised asset markets
Recorded year2025
By 2025, tokenised bond issuance and other bounded asset offerings operate in selected markets; settlement speed, legal rights and liquidity vary by product.
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Led to
- Stablecoins in everyday paymentsForecast · ~2028enables
- Lifelong learner walletForecast · ~2030enables
- Unified ledger for central banksForecast · ~2033enables
- Every product traceableForecast · ~2036enables
- Programmable money everywhereForecast · ~2040enables
- Verified skills replace degreesForecast · ~2045enables
Sources & evidence
- BIS Bulletin 107: Tokenisation of government bonds 2025-07-10
July 2025 research describes early tokenised government-bond issuance and unresolved infrastructure/legal issues, not universal instant securities settlement.
- BIS: Project Agora prototype and real-value testing 2026
July 2026 controlled tests settled about CHF800,000 across participating institutions. The prototype is not a finished global payment infrastructure.
Record reviewed 2026-10-18