Tokenisation is no longer a fringe concept — it’s redefining how companies raise capital, acquire targets and engage investors. That was the message from the “Corporate Advisory in a Digital Age” panel at the Capital Pioneer Digital Asset Summit on October 6.
Panellist Samuel Kerr, global equity capital markets editor at ION Analytics noted a key shift in the market over the past 12 months: “We’re seeing crypto-native companies list on the NYSE — not just exchanges, but infrastructure providers. That tells you something. Investors are allocating capital to the architecture underpinning digital assets, not just the assets themselves.”
Kerr pointed to Circle, Bullish and eToro, which have all listed on the US-based exchange in the last year.
The implication? UK advisors who ignore tokenised deal structures risk being cut out of the next wave of capital formation.
Steve Whyman, formerly head of debt capital markets at FMR, agreed, arguing that tokenisation — and more importantly, composability — offers a structural reset for financial services. “Tokenisation gives us digital assets. Composability gives us digital infrastructure,” he said. “It’s what allows advisors, issuers, and investors to interact in real time, with embedded compliance and automated settlement.”
The panel served as the launch platform for Whyman’s new discussion paper, “Composability Resolves the Systemic Challenges of Financial Services – Why Doesn’t the UK Embrace It?”
Whyman explained that he and co-author Dr Ian Hunt had outlined how legacy architecture — siloed systems, fragmented data, manual processes — continues to constrain corporate finance. Composability, they argue, enables modular workflows that reduce friction and unlock new models for capital raising and M&A.
Kerr pointed to Asia and the Middle East as regions already deploying tokenised equity platforms with regulatory support. “These markets aren’t just piloting — they’re executing,” he said. “And they’re doing it in ways that make capital formation faster, cheaper, and more transparent.”
The panel explored how smart contracts could automate core deal mechanics — from escrow and vesting to shareholder rights and post-deal liquidity. Whyman argued that this could open up new models for SME financing and cross-border M&A.
“It’s not just about speed — it’s about access,” he said.
Both speakers warned that the UK risks falling behind. Kerr noted that while London remains a global financial centre, its regulatory posture on tokenised securities remains cautious. “The capital is global. The innovation is global. If we don’t adapt, we’ll be intermediating less and less of it,” he said.
Whyman called for expanded sandbox regimes and clearer guidance. “We’re not asking for deregulation — we’re asking for frameworks that reflect how deals are actually done today,” he said.
The message was clear: tokenisation is already reshaping the dealmaking landscape. Advisors who embrace composability will define the next generation of corporate finance. Those who don’t may find themselves watching from the sidelines.
To access the paper, head to The Investment Association’s website. For more information on the Capital Pioneer Digital Assets Summit, visit our dedicated webpage.
