Security token offering

Marco Schletz

Chapter 41 in Elgar Encyclopedia of Cryptocurrencies, Blockchain and DLT, 2026, pp 205-208 from Edward Elgar Publishing

Abstract: “I believe the next generation for markets, the next generation for securities, will be tokenization of securities.” — Larry Fink | CEO, BlackRock (Source: https://www.youtube.com/watch?v=D0ek2yv81Gk) Security token offerings (STOs) represent the potential next phase in digital asset issuance, offering regulatory-compliant tokens backed by real-world assets. This chapter explores STOs’ regulatory, technological, and market implications, emphasizing their benefits in transparency, liquidity, and cost reduction. However, a fragmented regulatory landscape complicates compliance and limits scalability, particularly in global markets. As regulatory frameworks evolve and infrastructure matures, STOs’ potential is underscored by institutional adoption, such as BlackRock's tokenized fund, which demonstrates the growing integration of real-world assets into distributed ledger technology-based financial products.

Keywords: Security token offerings; STOs; Real-world assets; RWAs; Tokenization; Blockchain-based fundraising; Asset-backed tokens; Regulatory compliance (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035339952
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