The Capital Markets and Technology Association (CMTA) and the German Association for Electronic Securities (BfeW) have announced a collaboration to promote the adoption of tokenisation standards across jurisdictions.
The partnership aims to align technical frameworks for tokenisation in Switzerland and Germany, contributing to international standardisation.
A key outcome of this collaboration is the update of CMTA’s smart contract framework for tokenisation, the CMTAT, along with its reference implementation, to align with the requirements of the German Electronic Securities Act (eWpG).
The update is included in the recently released version 3.0.0 of the Solidity reference implementation and allows the CMTAT to be used in tokenisation processes under Germany’s regulatory framework.
In addition, the ERC-7551 standard, developed by BfeW, incorporates the core functions outlined in CMTA’s tokenisation standards for Switzerland.
This alignment demonstrates the adaptability of both frameworks and facilitates the implementation of tokenisation processes across multiple jurisdictions.
Markus Kluge has joined CMTA’s Technical Advisory Board Committee, which oversees the ongoing development of the CMTAT framework.
His expertise is expected to support the framework’s compliance with German regulatory requirements.
The CMTAT’s modular design allows token code to be adjusted to meet local legal requirements, providing flexibility across different jurisdictions.
“CMTA is committed to collaborating with associations across the world and partners to tailor the CMTAT for use in different jurisdictions,”
said Dr Jacques Iffland, Chairman of CMTA.
“International cooperation is essential to ensure the availability of smart contracts that can be used in a legally compliant manner across jurisdictions.”
Christopher Görtz, Chairman of BfeW’s Board of Directors, added:
“This collaboration is a major step toward ensuring that tokenisation frameworks remain compliant yet versatile, fostering innovation within the European digital securities market.”
Featured image credit: Edited by Fintech News Switzerland, based on image by rawpixel.com via Freepik
