ISIN, FIGI or ITIN — What identifier to use for DLT-based cryptographic tokens?

Conclusion

In sum, ITIN is the one identifier that captures the whole DLT-based token universe. In contrast, ISIN/FIGI cover traditional financial instruments and securities while probably also expanding to a growing but relatively small subset of DLT-based cryptographic tokens, which are classified as financial instruments and/or securities, or have become relevant to capital markets (incl. security tokens and major cryptocurrencies). The future majority of DLT-based cryptographic tokens, originating from an increasing tokenization of individual assets into non-fungible tokens that are not intended to be traded on capital markets, will not be covered by ISIN/FIGI though. This leaves ITIN as the prominent identifier to be used in a growing token economy, allowing for the integration of IoT and m2m applications at large scale.

Remarks

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International Token Standardization Association

International Token Standardization Association

The International Token Standardization Association (ITSA) is a not for profit organization working on holistic market standards for the global token economy.