Infrastructure for tokenized real-world assets
We build and operate the infrastructure that lets tokenized real-world assets be issued, traded, financed and redeemed — with the token representing a real legal claim on the underlying asset rather than synthetic exposure to its price.
What the category actually requires
Tokenizing a real-world asset is not primarily an engineering problem. It is a question of what the holder owns, who holds the underlying, how the claim is enforced, and what happens at redemption. Those answers determine whether the instrument is an asset or a derivative of one.
The second requirement is a market. An RWA that cannot be exited is a worse instrument than the asset it wraps, because it adds a layer without adding liquidity. Secondary market infrastructure is therefore not an enhancement to RWA tokenisation, it is the point of it.
Pricing is the third. Real-world assets frequently do not trade continuously, so a price has to be established by a method rather than read off a tape. That connects directly to our price feed work.
- Issuance
- Instrument structure and the documented claim, deployed on-chain.
- Trading
- Venue infrastructure and quoted secondary markets.
- Financing
- Using the tokenized instrument as collateral, with valuation and margining logic.
- Redemption
- The path from token back to the underlying asset, defined before issuance rather than after.
Kontor
Kontor is an institutional venue for issuing, trading, financing and redeeming tokenized real-world assets on one platform. It is a separately incorporated venture with Vandergrid as a founding shareholder, currently in testnet, incorporating in the EU with authorisation under the DLT Pilot Regime as the intended operating permission.
Kontor is the venue. Vandergrid provides the market infrastructure around it and for RWA issuers generally, whether or not they use Kontor.
What is RWA infrastructure?
The systems required to bring a real-world asset on-chain and keep it functioning there: issuance of the instrument, a venue where it trades, liquidity so holders can exit, pricing for an asset that may not trade continuously, financing against it, and a defined redemption path back to the underlying.
What makes a tokenized asset a real legal claim rather than a synthetic?
A real claim means the holder can enforce rights against the underlying asset through an identifiable entity in an identifiable jurisdiction. A synthetic gives price exposure without that right. The difference is invisible on-chain and decisive in a dispute, which is why it belongs in the structuring stage and in the documentation, not in marketing copy.
What does secondary liquidity for RWAs require?
Committed capital and continuous quoting, the same as any other instrument, plus a pricing method that works when the underlying does not trade continuously. Tokenized assets are frequently launched with a venue listing and no liquidity provision, which produces a market in name only.
How are tokenized real-world assets regulated?
It depends on the asset, the claim and the jurisdiction, and it is not a question a market infrastructure provider should answer for you. What we can say is that the regulatory treatment has to be settled during structuring, because it constrains venue selection, investor eligibility and the redemption mechanism.
What you receive
- Instrument structure with a documented, enforceable claim
- Venue infrastructure for issuance, trading and redemption
- Quoted secondary market with agreed depth and spread targets
- Pricing methodology for assets without a continuous market
How we engage
Engagements begin with a conversation about the instrument, the venues involved and what you are trying to achieve, followed by a written scope. Terms, including how we are compensated, are disclosed in summary before anything is signed.
We do not publish pricing, because scope varies enough that any number on a page would be wrong. Ask and we will tell you.
Plenty of firms will tokenize an asset for you. Far fewer will still be quoting it a year later, which is the part that determines whether the exercise was worth doing.