January 28, 2026

Digital Assets Download: Will the Word of the Year be “Tokenization”?

Author:

Joseph A. Castelluccio

Digital Assets Download: Will the Word of the Year be “Tokenization”? The world’s most popular English dictionaries annually select a “word of the year” to capture the zeitgeist of a particular year and spotlight the continuous evolution of the English language. From the stages Davos at the World Economic Forum to the almost-daily headlines in finance and markets, “tokenization” is – and will continue to be – a powerful force throughout 2026.

We launched our Stablecoins & Tokenization Resource Center with this in mind and members of our global team will be speaking about tokenization in a number of forums in the coming weeks. Check out our Events page below for details on how to join us.

For the Uninitiated: Digital Assets Download is a curated mix of insights and headlines that provide a Layer 3 Legal Perspective™ on the digital assets multiverse—created by Mayer Brown’s global Digital Assets, Blockchain & Cryptocurrency group.

The Lead Block

Perspectives and insights from Mayer Brown lawyers and other thought leaders that touch on digital assets, decentralized finance, cryptocurrencies and related fields.

SEC Staff No-Action Relief for DTC Pilot Provides a Pathway for Tokenized Securities
On December 11, 2025, the staff of the Division of Trading and Markets of the Securities and Exchange Commission issued a no-action letter to The Depository Trust Company (“DTC”) concerning a pilot version (the “Preliminary Base Version”) of a securities tokenization program, referred to as the “DTCC Tokenization Services."

News Node

Regulatory/Enforcement

Progress on U.S. Crypto Legislation and Its Implications for Users

SEC and CFTC Plan Joint Crypto Oversight Event

US Senators Introduce Long‑Awaited Bill to Define Crypto Market Rules

Crypto Market Structure Bill Delayed to Late January

SEC Preparing “Innovation Exemption” for Crypto Products

The US Wants Crypto Innovation: So Why Is It Still Regulating with an Orange-Era Test?

Markets

Stellar surpasses $1 billion in tokenized real‑world assets

Tokenized assets cross $21B — U.S. Treasuries lead the surge

Canton Network integrated into DTCC tokenized U.S. Treasuries MVP

XRP real‑world‑asset (RWA) tokenization surges into early 2026

TradFi firms are increasingly warming to cryptocurrencies, says Bybit CEO Ben Zhou

Courts

Digital Asset Companies Struggle Under Patchwork State Licensing

Florida Plaintiffs Seek Emergency Relief in $29.7M Crypto Theft Case

Can Courts Freeze Stolen Crypto? Injunction Limits Tested

Select Events

TOK26: The London Tokenisation Summit: On January 29, Mayer Brown partners Joseph Castelluccio and Musonda Kapotwe will take part in the London Tokenisation Summit, which brings together global regulators, institutional investors, and digital‑finance leaders to discuss the next phase of real‑world asset tokenisation. Joseph will moderate a session on breakthroughs and challenges in scaling RWA tokenisation, while Musonda will lead a discussion on navigating international regulatory frameworks for tokenised assets. [Visit the event webpage]

Fintech Xchange: From February 4–6, Mayer Brown partners Matthew Bisanz, Kelly Truesdale, Anna Pinedo, and Matthew Moscon will participate in the Fintech Xchange conference, hosted by the Stena Center for Financial Technology at the University of Utah. The program convenes leaders across finance, technology, academia, and regulation to explore the technological, economic, and policy forces shaping the fintech landscape. Matthew will join a panel on the systemic impact of the GENIUS Act, while Kelly, Anna, and Matthew contribute to broader discussions on emerging trends, regulatory developments, and innovations driving the future of financial technology. [Visit the event webpage]

Future of Digital Assets for Law Students: On February 19, Mayer Brown partner Matthew Bisanz will speak to students at GMU’s Antonin Scalia Law School as part of Professor Paolo Saguato’s banking course. Matthew will discuss the legal frameworks governing digital assets, offering students an overview of regulatory developments, compliance considerations, and how emerging digital‑asset innovations are shaping modern financial law.

LEARN THE LINGO

For those new to the digital assets and DeFi world, each edition of the Digital Assets Download will highlight a different term to help you be a part of the conversation.

CLEARING AGENCY

A clearing agency is a regulated financial market utility that handles the clearance, settlement, and recordkeeping of securities transactions. Entities like The Depository Trust Company (DTC) centralize the immobilization and transfer of securities, reduce counterparty and operational risk through standardized processes, and maintain accurate books and records that underpin market stability. Clearing agencies have become increasingly important in the digital‑asset landscape, as pilots involving distributed ledger technology—such as the SEC‑authorized DTC tokenization program—explore how traditional post‑trade functions can evolve to support tokenized securities and more efficient settlement models.

Writing on the Wall, Translating ‘Crypto’ Terms with Mayer Brown

From Airdrop to Wrapped Token, our illustrated glossary, “Writing on the Wall, Translating Securities with Mayer Brown,” has been updated with additional digital assets and cryptocurrency terms. Check out our “featured” list for the crypto terms and the full list of terms.