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The Cayman Islands' legislative framework for tokenised funds, in force since March 2026, moved fund tokenisation from concept to regulated operating reality. This hub is the CV5 Capital operator centre for tokenised fund interests: the legal framework and CIMA's expectations, the operating model that sits behind a token that represents a fund share, and the questions institutional allocators ask before underwriting a tokenised vehicle. Start with the flagship handbook, then work through the framework and operating model sections in order; tokenisation changes the register, transfer and settlement mechanics of a fund, and the managers who succeed are the ones who treat those mechanics as core infrastructure rather than an afterthought.
Flagship guide: The tokenised Cayman fund handbook is the definitive starting point.
Legal and regulatory framework
- Cayman tokenised funds, the RWA market and CIMA requirements
- The VASP licensing line for tokenised funds
- The CIMA tokenised fund questionnaire in practice
- The tokenised fund legal document suite
- US market structure: SEC, CFTC and Treasury
- FCA tokenised funds and the Cayman SPC cross-border stack
Operating model
- Tokenised liquidity funds: the Cayman operating model
- Transfer agency: the hidden layer of tokenised markets
- How the official register works in a tokenised fund
- Governance, wallets and transfer restrictions
- AML and KYC on secondary transfers
- Stablecoins as the cash leg
Structures and concepts
- Tokenised fund interests vs tokenised assets
- Tokenised side pockets for illiquid assets
- Tokenised collateral and fund boards
- RWA tokenisation for institutional managers
- Tokenisation's structural advantages and open challenges
- Tokenised deposits, stablecoins and the CIMA fund stack
- Tokenised treasuries and on-chain cash management
The allocator lens
- Allocator due diligence on tokenised funds
- Nine tokenised Cayman funds through the underwriting lens
- Cayman tokenised funds vs US on-chain ETFs
- The institutional guide to tokenised Cayman funds
Guide: the Tokenised Fund Launch Playbook is available on request. Contact the platform team and reference the playbook.
Frequently asked questions
Does tokenising a fund trigger VASP licensing?
Not necessarily; it depends on who performs custody, exchange and transfer functions. The VASP licensing line analysis maps where the boundary sits.
Is the token the share register?
No. The official register remains the legal record; the token is a representation whose synchronisation with the register is an operational design decision. See how the official register works.
Can subscriptions settle in stablecoins?
Yes, with valuation, reconciliation and AML controls in place. See stablecoins as the cash leg.
Related hubs
Tokenising a fund? Explore fund tokenisation at CV5 or speak to the team.
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