Tokenisation FAQs

Tokenisation represents ownership digitally using distributed ledger technology, including blockchain-based infrastructure. It creates a way to record and transfer ownership that can operate alongside existing market systems.

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Dematerialisation removes paper share certificates and moves ownership records into electronic form. Tokenisation builds on this by introducing new digital infrastructure for recording and transferring ownership. Dematerialisation is a confirmed market change in the UK and is expected to move certificated holdings into an electronic framework, while tokenisation can create more optionality for direct ownership depending on the model adopted.

Tokenisation is still developing, but it could influence ownership visibility, investor access, liquidity and shareholder engagement. Understanding these changes early helps you stay informed and maintain control as markets evolve.

No. You still need to maintain an accurate ownership record, meet governance and regulatory requirements, protect shareholder rights and comply with identity verification and reporting obligations.

Tokenisation could help in different ways depending on how the market develops and which model is used. 

• Make ownership information timelier and more efficient by using smart contracts and real-time identification 
• Support more direct investor engagement and corporate communications 
• Increase operational efficiency by maintaining ownership information on a shared ledger and reducing manual intervention 
• Support near real-time settlement 
• Broaden investor access through wider distribution channels 

The benefits will depend on the model adopted and how the market evolves.

Not necessarily. Most trading today takes place through established exchanges and intermediaries. Tokenisation may support new trading and settlement models over time, but it is expected to develop alongside existing structures rather than replace them.

Not in the near term. The UK market remains highly intermediated, and tokenisation is likely to coexist with existing market participants for many years. Different tokenisation models may involve different levels of intermediation.

Some tokenisation models may provide more timely, transparent and traceable ownership data. The outcome will depend on how ownership is structured, regulatory requirements and how new models interact with existing infrastructure.

The regulatory framework is still evolving. The Financial Conduct Authority (FCA), Bank of England and industry participants are exploring how tokenised securities could operate through initiatives such as the Digital Securities Sandbox.

Ownership models may evolve, but the fundamentals remain the same. Issuers continue to need: 

• Trusted ownership records 
• Effective governance 
• Regulatory compliance 
• Reliable shareholder servicing 
• Shareholder rights and protections 
• Confidence in market infrastructure 

Technology may change how ownership is represented, but trust, governance and ownership integrity remain fundamental. 

It shouldn’t. Shareholder rights, including voting, dividends and participation in corporate actions, can be preserved depending on the legal structure and tokenisation model used.

No. Issuers do not need to adopt tokenisation now. The priority is to understand how the market is evolving and assess whether future tokenisation models could create value for your business and your shareholders.

Tokenisation could create more consistent, digital-first experiences. Shareholders may benefit over time from simpler processes, greater transparency and more direct interaction with their investments.

Computershare helps issuers understand how ownership models are evolving and what that means for governance, shareholder engagement, visibility and control. We help clients assess options, understand implications and prepare for future market developments.

We actively monitor regulatory and market developments, engage with industry participants and draw on our global experience to provide practical guidance, insight and support as tokenisation develops.

Computershare launched Issuer-Sponsored Tokens (ISTs) in the US in 2026. Under the US model, ISTs allow eligible shareholders to hold shares in tokenised form while preserving the official shareholder register, shareholder rights and Computershare’s role as a transfer agent. Voting rights, dividends and corporate actions remain linked to the same underlying share. The model operates alongside traditional holding methods rather than replacing them.

The UK market is still developing, but our US experience provides a practical example of how tokenisation can be introduced while maintaining issuer oversight, ownership integrity, shareholder rights and regulatory confidence within a specific market framework. It shows that digital ownership models can be implemented without compromising the things that matter to most issuers, while recognising that any UK model would need to reflect UK law, regulation and market infrastructure.

Tokenisation should create new opportunities without compromising issuer control. Future models should support ownership integrity, clear shareholder rights, strong governance and compliance, direct shareholder engagement and a trusted source of ownership data.

Tokenisation should not change shareholder voting rights. Voting rights remain attached to the underlying shares and can be preserved within a tokenised structure, depending on the model used and the legal framework that supports it.

Tokenisation should not change a shareholder’s entitlement to dividends. Dividend rights remain attached to the underlying shares and can be preserved within a tokenised structure. Tokenisation may enable more efficient payment processing and distribution over time, depending on the model adopted and the supporting infrastructure.

The legal register remains critical to share ownership and issuer governance. The way tokenisation interacts with the register will depend on the legal and operational model used.

Visit our tokenisation hub for the latest updates, market developments and expert insights. If you’d like to discuss how tokenisation and dematerialisation may affect your business, contact our team.

Visit the Tokenisation hub