Blockchain Bonds Still Cash Out Through Old Bank Rails

On October 28, the World Economic Forum and Boston Consulting Group published a report covering 35 jurisdictions, saying custody, settlement currency, central-bank authority and collateral rules are central to tokenized markets. Since March 30, 2026, the Eurosystem has accepted assets issued through distributed ledger technology as collateral after conversion into a form compatible with TARGET2-Securities. In the UK, firms need Bank of England approval for each stablecoin used in sandbox settlement, and HM Treasury aims to launch its tokenized Digital Gilt Instrument in the first quarter of 2027. Singapore’s Monetary Authority offered a S$10 million tokenized bill issued October 9 and maturing October 23, with redemption into central-bank digital currency postponed to the next business day when payment systems close.