Consulting | Current Topics

DLT & Digital Assets

Strategic positioning, regulatory compliance, and concrete implementation

Distributed Ledger Technology (DLT) is changing daily business for capital markets. To maintain a competitive edge, financial service providers must create and develop new services while maintaining their established role in the market.

Our offer supports a wide range of interconnected areas to embrace the adoption of this new technology and unlock its potential for new markets and service offerings, from definition of strategic positioning & use cases to support for compliance with related regulatory requirements and applicable licensing process as well as in concrete stages of the technical implementation.



Strategic Positioning & Use Case Development

We offer our support in the first steps of your institution’s digital assets journey:

  • Use Case Analysis: Strategic analysis of business cases encompassing considerations such as competition, strategic advantage, and alignment with your company’s business model to transparently outline the best product and service offerings within the DLT landscape.
  • Operating Model & Market Entry: Development of operating model and market entry solution, tailored to the company’s specific requirements to ensure optimal market positioning.
  • Regulatory Screening: Extensive regulatory expertise to conduct a first assessment of regulatory environment for selected use cases and define concrete requirements to comply with each regime.
  • Technology Screening: Technical expertise to provide tailored advice on the optimal underlying blockchain technology and choice of platform to successfully implement identified use cases.
  • Proof of Concept: Conduct an LPA supported prototype phase of the new product.
  • Maturity Assessment: Careful evaluation of results from test phase and presentation of a comprehensive maturity assessment.



Regulatory Compliance & Licensing

The current regulatory landscape for Digital Assets is particularly fragmented and challenging to navigate:

  • MiFID II aims to harmonize European financial markets and improve investor protection. The DLT Pilot Regime offers a Sandbox Environment to develop the supply chain for DLT instruments.
  • MiCaR targets financial stability and market integrity to regulate the introduction of Crypto Assets.
  • In Germany KWG (“Kreditwesengesetz”) and eWpG (“Gesetz über elektronische Wertpapiere”), among others, provide a further framework from issuance to custody within the European regulatory context.

Our offering covers the full spectrum of regulatory support, from initial screening of applicable regimes’ requirements (and opportunities) to concrete documentation and license applications.



Transformation processes & token solutions

We offer support in different areas of the DLT adoption journey including:

  • Setup of custody systems for digital assets (e.g., crypto currencies).
  • Support in development, choice of suitable technology and network infrastructure.
  • Backing in general transformation processes.

Our services cover the main stages of the implementation process chain towards the final go-live, among others:

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Efficient Documentation and Life- Cycle Management of Structured Retail Products

Structured retail products (SRPs) have established themselves as a pivotal asset class within the world of financial investments. Yet, as the financial landscape evolves, so too must the mechanisms for issuing and trading these innovative instruments.

Contacts

Hans Joachim Lefeld

Hans Joachim Lefeld

Partner, Germany

Christina Pfendt

Christina Pfendt

Manager, Germany

About

Software and advisory solutions for financial services.

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