Strategic decision framework for tokenized funds in commercial banking : a business, technology, and risk perspective

Abstract

This thesis develops a strategic framework for a commercial bank to navigate the complex world of fund tokenization. The research analyzes five critical decision points: DLT infrastructure, ledger configuration, privacy, interoperability, and settlement finality. By synthesizing real-world case studies from pioneering institutions such as BlackRock, J.P. Morgan, Société Générale-FORGE, DTCC, and Euroclear, this study validates that the core value proposition of tokenization—enhanced efficiency and new market creation—is no longer theoretical.