CMTA's Standard for the Tokenization of Debt Instruments using Distributed Ledger Technology provides guidance on tokenizing debt securities as ledger-based securities in accordance with Swiss law (Art. 973d et seq. CO).

The document outlines the legal and operational steps issuers should follow when issuing financial instruments digitally. It provides a list of requirements and recommendations for companies based in Switzerland or elsewhere for complying with Swiss law. The Standard provides legal advisors, company management, and the financial sector with a detailed, practical introduction to tokenization in Switzerland.

The Standard:

• sets out the requirements and recommendations for the tokenization of non-equity instruments under Swiss law

• provides standard provisions for tokenization terms, board approvals and company regulations for ex-post controls of an instrument holder register

• outlines the required features of a smart contract for tokenizing debt instruments (for CMTA's full token standard see the CMTAT page)

CMTA's Debt Tokenization Standard was developed by CMTA's membership of leading law firms, financial institutions and technology companies.