CMTA and BfeW Team Up to Drive Tokenisation Standards Across Europe
The Capital Markets and Technology Association (CMTA) and the German Association for Electronic Securities (BfeW) have joined forces to promote tokenisation standards across jurisdictions. This collaboration, led by Dr Jacques Iffland, Chairman of CMTA, and Christopher Goertz, Chairman of BfeW's Board of Directors, aims to foster innovation and international standardisation in the digital securities market.
The partnership has resulted in the update of CMTA's smart contract framework for tokenisation, the CMTAT, to align with the requirements of the German Electronic Securities Act (eWpG). The modular design of the CMTAT allows token code to be adjusted to meet local legal requirements, providing flexibility across different jurisdictions.
Markus Kluge has taken a key role in this process. He has joined CMTA's Technical Advisory Board Committee, responsible for the further development of the CMTAT framework in Germany. His expertise has been instrumental in ensuring the framework's compliance with German regulatory requirements. Additionally, the ERC-7551 standard, developed by BfeW, incorporates the core functions outlined in CMTA's tokenisation standards for Switzerland, further strengthening the collaboration.
Through this collaboration, CMTA and BfeW are committed to promoting harmonised tokenisation standards across jurisdictions. This partnership is expected to contribute significantly to the international standardisation of digital securities, fostering innovation and growth in the European market.
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