Digital asset securitization brings exposure to digital assets into a regulated instrument. A regulated counterparty has custody of the assets, a ring-fenced compartment of an MTCM Luxembourg SPV holds that arrangement, and the note issued from it carries its own ISIN under the Luxembourg Securitization Law of 22 March 2004.
Institutional investors are frequently unable to take digital asset exposure, not because of the exposure itself but because of the venues and instruments through which it is normally held. MTCM structures it into a ring-fenced compartment of one of its six Luxembourg SPVs, with a regulated counterparty handling custody, and the compartment issues a note under its own ISIN. MTCM does not operate in digital asset markets; it structures the compartment and administers the note. Each compartment is bankruptcy remote both ways and sits off the originator’s balance sheet. Digital asset custody is handled by Bank Frick as regulated counterparty, with GSK Stockmann as legal counsel and PwC and Atwell as auditors.
Held in custody, transferred or listed like any other security.
Segregated by law from every other transaction on the platform.
Protection runs in both directions.
The exposure leaves the originator’s balance sheet.
Identified holdings placed with a regulated counterparty under documented custody.
Exposure to a defined strategy run by an appointed third-party manager.
Facilities secured on digital asset collateral, structured as debt instruments.
Physical operations and the contracted revenue they produce.
Stakes in exchanges, custodians and service providers in the sector.
Positions in companies building infrastructure for the sector.
Exposure to a documented reference rather than to a held position.
Conventional assets structured for issuance on the digital rail through Talea DRN.
Digital property with documented ownership and transferable rights.
Corporate digital asset holdings structured for financing or for transfer.
Digital asset securitization brings exposure to digital assets into a regulated instrument. The exposure is ring-fenced in one compartment of a Luxembourg SPV, custody sits with a regulated counterparty, and the note issued carries an ISIN of its own under the Luxembourg Securitization Law.
No. MTCM does not trade, hold or manage digital assets and is not a bank, a broker or an asset manager. MTCM structures and administers the compartment. Custody and any trading sit with regulated counterparties and managers appointed for that purpose.
The investor holds a note with an ISIN rather than a position on a venue. The note can sit on a client statement with the rest of the portfolio, the compartment is ring-fenced by law, and the holdings and valuation basis are independently audited.
Talea DRN is MTCM’s Dual-Rail Note: a single note issued over an audited Luxembourg compartment that reaches investors through a traditional rail carrying an ISIN and a digital rail using the regulated ERC-3643 standard. The note is born digital; MTCM does not tokenize an existing asset.
A regulated counterparty appointed when the compartment is structured. Custody arrangements, title and the valuation source are documented at the outset and verified as part of the compartment’s audit.
Private banks and wealth managers whose clients want this exposure but whose mandates require a regulated instrument, family offices seeking a documented structure, and businesses in the sector financing against their own assets.
| Held directly | Held through a compartment | |
|---|---|---|
| Legal form | A holding on a venue or in a wallet | A note issued under the Luxembourg Securitization Law |
| Where it sits for the investor | Outside the custody chain | On the client statement, with an ISIN |
| Who holds the asset | The investor or the venue | A regulated counterparty appointed at structuring |
| Audit | Depends entirely on the venue | The compartment is independently audited |
| Segregation | Commingled on many venues | Ring-fenced by law in its own compartment |
Talea DRN is an issuance format available across verticals, not only for digital asset underlyings. See the Talea DRN page.
80+ active compartments · €2.5 bn+ assets structured. Indicative platform figures.