Real-World Asset Tokenisation in GMC: Legal Advisory

A tokenisation project succeeds or fails on one question: what does the holder actually own? A gold token, a tokenised bond, a property interest and a carbon credit each land in a different place under the Financial Services Act 2025, and the answer decides which licences each party needs. Basnet Law Pte.

Classifying the token by the rights it confers: share, debt instrument, certificate, fund unit, structured product, environmental instrument, spot commodity or virtual asset.

Advising on structuring the issuance, custody and infrastructure legs so that each sits with a correctly licensed party.

Advising on the offer route where the token is a security, including the Approved Prospectus requirement and the exempt offers GFSO's Rules prescribe.

Reviewing whitepapers, launch sites and investor decks against the financial promotions restriction.

Drafting custody agreements that address whose property the tokens are and how they are identified.

Advising on the licence applications the structure needs, from dealing and arranging to custody and operating a trading facility.

Issuers of gold, metal and commodity-backed tokens deciding what the holder will own. Platforms tokenising bonds, private credit, fund interests or real estate. Custodians and exchanges that will hold or list tokenised instruments. Carbon and renewable energy developers tokenising credits or certificates.