Solutions / For tokenization platforms and banks
Tokenization is four audit perimeters. One of them is unaudited.
Tokenized assets involve traditional custody for the underlying, crypto custody for the token, on-chain issuance infrastructure, and an ongoing reconciliation process that keeps the two sides honest. Each of the first three has an audit regime. The reconciliation seam — the one where most operational failures actually happen — doesn't. That's where we work.
Who this is for
- Tokenization platforms issuing against real-world assets, securities, commodities, or fund interests
- Banks and asset managers integrating tokenized products into their own custody, distribution, or balance sheet operations
- Allocators evaluating tokenized exposure as part of portfolio construction or fund structuring
- Regulators and their advisors evaluating a tokenization program before licensing or approval
What we usually find
Tokenization programs tend to over-invest in smart contract audit and under-invest in operational reconciliation. The contract gets extensive code review; the mechanism that ensures the off-chain asset still matches the on-chain token a month into live operation often depends on a spreadsheet, a Slack message, and a single operations lead's familiarity with both sides. That's the gap we name.
How we engage
A tokenization engagement usually begins with a coverage map — what the traditional custody audit, the smart contract audit, and any broker-dealer or transfer-agent audits actually cover — and then drills into the seams none of them are designed to cross.
Operational Due Diligence
Map the existing audit regimes, identify what's covered and where the seams are.
Tokenization
End-to-end workflow assessment: underlying custody, issuance, reconciliation, redemption.
CCSS Audit & Readiness
Key material controlling the token contract, upgrade authority, and any privileged on-chain actions.
On-Chain Credit
Where tokenized assets are used as collateral and the full collateral lifecycle needs review.
Pressure-test a tokenization design
Best time to engage is before the first issuance. Second best is before the first redemption.
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