Tokenization opens new investment opportunities by allowing assets to be represented as tokens on a blockchain. It reduces costs and permits fractional ownership of assets, making them more affordable and liquid. Different types of tokens include asset-backed tokens, derivatives tokens, and tokens without an underlying asset. Tokenization could help asset managers reduce costs and offer new asset classes. It facilitates direct relationships between issuers and investors, improving transparency. Initial coin offerings (ICOs) and security token offerings (STOs) have already raised billions for new digital assets. Tokenization may create a $10 trillion market for digital assets.

1. www.finoryx.com
listen, propose, implement
© finoryx 2019
Tokenization opens
investment opportunities
to everyone
Olivier Roucloux,
October 2019

2. What can I buy if I want to invest ?

3. Current investment opportunities
? ? ? ? ? ?
Cannot invest
Savings accounts
Private Banks
Dedicated service
Package offers
Life
Insurances
Retail Banks
Package instruments
distribution
Fintechs

4. Is Tokenization
an Answer?

5. What is “tokenization” ?
Broadly speaking, tokenization is the process of converting
some form of asset into a token that can be moved, recorded,
or stored on a blockchain system
First known token: Market cap is about 190B$ (was 300b$ Xmas 2017)

6. ICO, STO and Future of “Security Tokens”
ICO (Initial Coin offering), STO (Security Token offering), ETO
(Exchange Token Offering) are fundraising mechanisms and they
are the ‘Decentralized Finance’ equivalent to ‘IPO’.
In 2016, 43 sales raised $256 million
(including Waves, Iconomi, Golem and Lisk)
In 2017, 342 token issuances raised $5.4 billion
In 2018, over $16 billion raised using ICO/STO
(including EOS $4.2B, Telegram $1,7B, …)
These new types of assets are called
‘Digital Assets’ and perspectives
foresee a market cap of $10 trillion.

7. What types of “Tokens” are considered ?
 Like traditional “Financial Instruments” there are different
types of “digital assets”. Many attempts to classify it but
still lack clear definition.
Without underlyer
Behavior different
than the underlyer
Behavior of the
underlyer
With underlyer
Tokens
Asset backed tokens
“Tokenized assets”
Derivatives tokens
Intrinsic tokens
Most of these tokens are currently unregulated !!

8. Conclusion
 Innovation is not only in technology or process, it is also a way to create
new financial instrument to serve new customer segments
Private banks
Retails banks
Investment Funds
Asset Managers
Life Insurances
…
 Tokenization meets asset managers challenges
 Reduce processing costs
 Permit fractional ownership to offer new (price affordable) asset classes
 Easy transfer mechanisms allowing greater liquidity
 Instant settlement, no slow and costly intermediaries
 Direct relationship between issuer and token-holder,
enhancing distribution information, transparency and conformance

9. Thank You

10. Contact and References
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