In this first chapter of our new white paper, "The Case for A CSD for Digital Assets: Chapter One - The Settlement Challenge" we examine the structural challenges in both on-chain and off-chain digital asset settlement models and why a regulated digital CSD is essential to enabling institutional adoption. Through historical parallels and real-world market failures, this paper outlines the lessons that must be learned to ensure the safe, scalable, and efficient evolution of digital asset markets.

Discover how the UK’s Digital Securities Sandbox is unlocking innovation in post-trade settlement and learn how ClearToken is pioneering 24/7 settlement, fractional ownership, and greater efficiency in digital markets.

Digital assets promise real-time settlement, but reality falls short—manual processes, counterparty risk, and fragmentation persist. Learn how proven financial market infrastructure can unlock efficiency, security, and scalability.

In this white paper we consider the centrality of trust to the safe evolution of digital asset markets through key historical parallels, the limitations of code, necessary regulatory developments and the transformative potential of tokenisation.

To reach their potential, digital asset markets need the full participation of institutional investors. They in turn need digital asset markets to recognise the limitations of bilateral trading and develop essential centralised clearing and settlement infrastructure that has been long trusted upon in traditional finance to make markets more efficient, safer and predictable. This White Paper explores the key benefits of centralised clearing and why it matters for the future of institutional participation in digital assets.