1st May - Selected members of the ERC3643 association, together with Tokeny, LayerZero, Fasanara Capital, and ABN AMRO, have launched a cross-chain Delivery-vs-Payment (DvP) solution for regulated tokenized assets. The solution enables atomic settlement between ERC-3643-based security tokens and cash-equivalent tokens across the Polygon and Base networks.
Initiated within the non-profit ERC3643 Association, the solution demonstrates how on-chain securities and cash-equivalent tokens can be securely settled across two blockchains, without requiring counterparties to bridge assets across chains. This removes a major friction point and addresses the institutional need to operate the cash and security legs on separate networks.
The system showcases a concrete and real-time proof of concept use case: Fasanara issued ERC-3643-based security tokens on Polygon using Tokeny’s onchain finance platform, while ABN AMRO issued cash tokens on Base. A decentralized application (dApp), developed by Labrys, orchestrates the cross-chain DvP process using LayerZero’s messaging infrastructure.
This use case demonstrated that the ERC-3643-based security tokens and payment tokens can be exchanged across chains with real-time settlement.
As asset tokenization gains traction, institutions face a major challenge: having the cash leg onchain. Most current processes rely on traditional payment rails, resulting in long settlement cycles, high operational costs, and increased counterparty risk.
To meet privacy requirements, some institutions prefer using payment tokens on private blockchains. This initiative demonstrates how DvP settlements can take place across two separate chains, enabling the asset and cash legs to operate independently while settling atomically, without any counterparty risk.
This lock-and-release mechanism is designed to enhance security.
Luc Falempin, CEO of Tokeny: “Institutions want to go onchain but need flexibility, control, and compliance. This project proves they can issue securities and trade them compliantly, with instant settlement, regardless of the underlying blockchain infrastructure. We’re proud to work with LayerZero, Fasanara, and ABN AMRO to deliver this real-world application.”
Bryan Pellegrino, Co-founder of LayerZero: “This is exactly the kind of use case LayerZero was built for. Bringing financial infrastructure onto crypto rails, connecting it across chains, and enabling secure applications. This project shows how cross-chain messaging can support regulated finance by combining identity, compliance, and atomic settlement, while improving capital efficiency and settlement performance across the system.”
David Vatchev, Head of Tokenization of Fasanara Capital: “As an asset manager focused on innovation, we see tokenization as the future of finance. With Tokeny’s compliance infrastructure and this cross-chain setup with LayerZero and ABN AMRO, we can issue fully regulated digital securities and enable a near‑real‑time settlement experience, even when the security leg and cash leg are on different blockchains.”
Martijn Siebrand, Digital Assets Program Manager at ABN AMRO: “This project demonstrates the real-world potential of blockchain in regulated markets. Issuing cash tokens onchain and settling instantly with digital securities is a big step forward, and we’re excited to help shape this future.”
This achievement marks a significant leap for institutions looking to adopt digital asset infrastructure while maintaining control, compliance, and operational efficiency. The ERC-3643 standard, combined with cross-chain technology, brings the vision of interoperable and institutional-grade onchain finance to life.
About ERC3643 Association
The ERC3643 Association is a non-profit organization regrouping industry leaders within a shared mission to advance the adoption of the ERC-3643 T-REX standard and promote the development of a standardized, secure, and compliant tokenization framework. The association brings together the expertise and resources of its members to foster collaboration, drive innovation, and create a more inclusive, efficient, and secure financial landscape. By supporting the widespread adoption of the ERC-3643 standard, the association aims to unlock the full potential of tokenization and pave the way for a new era of global asset management.
About Tokeny
Tokeny is a leading on-chain finance operating system. It has pioneered compliant tokenisation with the open-source ERC-3643 “T-REX” standard and advanced white-label software solutions. The enterprise-grade platform and APIs unify fragmented on-chain and off-chain workflows, integrating essential services to eliminate silos. Tokeny enables the seamless issuance, transfer, and management of tokenized securities. By automating operations, offering innovative on-chain services, and connecting with any desired distributor, Tokeny helps financial players attract more customers and improve liquidity. Trusted worldwide, Tokeny has successfully executed over 120 use cases across five continents and has facilitated $3 billion worth of on-chain transactions and operations.
About LayerZero
LayerZero is the leading interoperability protocol. It empowers businesses to use crypto to create scalable, secure, and seamless products – from tokens to apps to full-scale companies. LayerZero currently connects $100B in assets and 400+ applications across 130 chains and counting. Major assets and teams building on LayerZero include PayPal USD, Google Cloud, Ethena, Stargate, and many more.
About Fasanara
Fasanara is an institutional investment manager that offers tech-enabled asset-based credit and digital assets solutions. Founded in 2011, Fasanara currently manages $4.5 billion in assets under management, and is focused on delivering uncorrelated returns through a technology-centric and systematic investment approach.
Fasanara offers institutional-grade investment opportunities across niche asset classes within specialty finance and digital assets. Fasanara’s digital asset operation was set up in 2018 and has grown to become a top liquidity provider to major exchanges worldwide. Within 2024, Fasanara had transacted over $250 billion in crypto market volumes. Fasanara is an Investment management firm authorized and regulated by the Financial Conduct Authority (Firm reference number: 551020).
About ABN AMRO
ABN AMRO is a Northwest European bank for retail, corporate and private banking clients, headquartered in Amsterdam. We want to be a personal bank in a digital age for our customers. And the bank that shapes and enables the transition to a sustainable society, together with our customers and partners. We do this based on our purpose Banking for better, for generations to come. Our focus is on North-western Europe. With more than 20,000 colleagues, of which approximately 5,000 abroad, we serve more than 5 million customers.
