MTCM and Tokeny Launch Luxembourg’s First Dual-Format Securities Issuance Framework
In a major step toward unifying traditional finance with blockchain innovation, Luxembourg-based securitization platform MTCM has announced a new partnership with Tokeny to introduce the country’s first dual-format issuance framework.
The new model enables the simultaneous issuance of ISIN-listed notes and tokenized securities, offering a seamless bridge between conventional and digital capital markets.
Operating across Europe, the Americas, MENA, and Asia, MTCM serves a wide spectrum of institutional clients. Its collaboration with Tokeny, the onchain operating system powering compliant digital assets, positions it at the forefront of hybrid financial structuring.
Under this partnership, securities issued from the same legal compartment are available in two parallel formats: a traditional ISIN-listed note settled through a leading international central securities depository (CSD), and an ERC-3643-based permissioned token issued on blockchain. Both are fully fungible and compliant, giving issuers and investors the freedom to choose their preferred settlement method without sacrificing operational efficiency or regulatory safeguards.
“The partnership with Tokeny allows us to industrialize a dual-issuance model that was previously not possible,” said Pedro Herranz, Managing Partner at MTCM. “This structure enables investors and arrangers to choose between blockchain or traditional settlement, without compromising on compliance, efficiency, or investor protections.”
The dual issuance framework is supported by a white-labeled integration of Tokeny’s T-REX platform into MTCM’s end-to-end solution. While MTCM manages structuring, administration, and calculations, Tokeny brings the technology that streamlines onboarding, KYC, subscriptions, and secondary market activities through a single investor portal.
The model is designed not only to simplify processes, but also to encourage adoption.
“This is a practical way to help traditional investors get familiar with onchain assets,” said Luc Falempin, CEO of Tokeny. “Once they experience faster settlement, enhanced access, and improved asset functionality, they’ll naturally shift toward modern digital formats.”
By embedding digital identity, AML/KYC checks, wallet integration, and cap table management into one user-friendly interface, the system reduces onboarding friction while improving transparency and control.
This hybrid structure also offers major cost advantages. Investors can self-custody digital securities, eliminating the need for costly intermediaries. Meanwhile, arrangers benefit from broader distribution, reaching both traditional institutional clients and blockchain-native investors.
With over €2.5 billion in assets under service and a 400% growth in the past two years, MTCM continues to expand globally while leading innovation in digital finance.
The firm’s collaboration with Tokeny underscores its commitment to building a multi-rail financial future, where capital markets infrastructure and blockchain technology work hand in hand.
