A practical guide to choosing the right tokenization infrastructure
Selecting the right tokenization platform is one of the most consequential infrastructure decisions an organization can make. This guide compares leading platforms on what matters most: regulation and licences, custody and investor experience, capital-raising tools, compliance, flexibility and cost — using what each company states on its own website.
Libertum combines issuance technology with regulated entities, built-in custody and the tools to raise capital — structuring, investor distribution and co-listing across partner marketplaces — in one white-label platform.
Regulated & licensed
Libertum, S.A. de C.V. is registered with El Salvador’s National Digital Assets Commission (CNAD) as a Digital Asset Service Provider: registry entry PSAD-0094, granted 31 August 2026 under resolution CNAD-CD-477-2026, for the services in Art. 19 (a), (d) and (f) 1–2 of the Digital Assets Issuance Law — custody, exchange and transfer of USDT and USDC and receipt and transmission of client orders, with RLUSD custody approved. It is a CNAD-supervised entity that reports quarterly, and the registration covers these services in El Salvador. It is also registered as a Bitcoin Service Provider (7 October 2024).
Libertum LLC is registered with FinCEN as a Money Services Business (no. 31000312444528, effective 8 October 2025), and Al Xolame Assets Real Estate L.L.C holds a Dubai commercial licence for real estate. These registrations do not authorise Libertum to issue securities: each issuer remains responsible, with its own counsel, for its offering.
El Salvador
Libertum, S.A. de C.V.
Digital Asset Service Provider
Comisión Nacional de Activos Digitales (CNAD)
Registry entry no.: PSAD-0094 31 August 2026
El Salvador
Libertum, S.A. de C.V.
Bitcoin Service Provider
Gobierno de El Salvador
Registration code: 66ff15fce8a00a3181b8f26d 7 October 2024
United States
Libertum LLC
Money Services Business registration
Financial Crimes Enforcement Network (FinCEN)
MSB registration no.: 31000312444528 8 October 2025
Dubai, UAE
Al Xolame Assets Real Estate L.L.C
Commercial licence — real estate
Dubai Department of Economy and Tourism
Commercial licence no.: 1374511
Platform-managed custodian wallets for investors and issuers on EVM networks, Cardano and the XRP Ledger (enabled per deployment), so no third-party wallet is needed to invest.
When an investor pays from the custodian balance, gas is sponsored and billed to the offering’s issuer. Investors are never charged network fees for XRP Ledger transactions.
Investors pay by card, bank wire, USDC or USDT on EVM, RLUSD or USDC on the XRP Ledger, or from their custodian balance. Card and wire payments settle in USD, EUR or GBP, chosen per offering.
Offering-pack drafting software for issuers, with jurisdiction packs for the Cayman Islands (CIMA, published) and, in Beta pending counsel review, El Salvador (CNAD), the US (SEC Reg D / Reg S) and the EU (MiCA). Drafts are for review by your own counsel; it is not legal advice.
An investor CRM and pipeline for your raise — contacts, organisations, campaigns and introductions — with optional Libby AI investor discovery, enrichment and matching.
Through the Ecosystem Directory, an issuer can ask other Libertum-powered marketplaces to host its approved offering. Once a host accepts, that platform’s investors can invest through the same token and cap table — more reach without a second issuance.
Independently penetration tested and audited by Hashlock — rated ‘Secure’ (Oct 2025 blackbox penetration test of the T-Suite web applications; no critical or high-severity findings), plus Hashlock smart-contract audits. See the audits and the penetration-test report.
Regulated entities in El Salvador, the US and the UAE; structuring packs for El Salvador, the US, the EU and the Cayman Islands; tokens live on Base, Ethereum, Polygon, Arbitrum, Cardano and the XRP Ledger.
Built-in KYC/AML, jurisdiction-aware transfer rules, and alignment with frameworks like MiFID II or SEC regulations.
Ability to tokenize diverse asset types including real estate, equity, debt instruments, commodities, and funds.
Whether you can deploy the platform under your own brand, with custom UI, domain, and workflows for your clients.
APIs, SDKs, and modular architecture that integrate with existing systems such as banking rails, CRMs, and custodians.
Transparent pricing models, whether subscription-based, per-token fees, or revenue-share, and how they scale with volume.
Jurisdictional support, multi-language capabilities, and compliance with region-specific regulatory requirements.
| Feature | Libertum | Securitize | Tokeny | Brickken |
|---|---|---|---|---|
| Primary Focus | Regulated, white-label RWA infrastructure | Institutional fund tokenization | Enterprise token lifecycle | No-code asset tokenization |
| Regulated / Licensed | Yes — regulated entities in El Salvador (CNAD-registered DASP, PSAD-0094; CNAD-supervised), the US (FinCEN MSB) and the UAE | Yes — SEC-registered transfer agent; Reg D/S, Reg A+ | No licence stated on its website (cites SOC 2 compliance and audits) | No licence stated on its website (cites ISO certifications and MiCA alignment) |
| Licences held | Libertum, S.A. de C.V.: CNAD DASP registration PSAD-0094 and Bitcoin Service Provider registration (El Salvador). Libertum LLC: FinCEN MSB 31000312444528 (US). Al Xolame Assets Real Estate L.L.C: Dubai commercial licence 1374511 (real estate) (licences) | Its website states: SEC-registered broker-dealer and FINRA member operating an ATS (Securitize Markets, LLC); SEC-registered transfer agent; a CNMV-authorised investment firm in the EU | See its website — none named on the pages we reviewed | See its website — none named on the pages we reviewed |
| Token Standard | ERC-3643, ERC-20, ERC-721, CIP-20, CIP-113, XRPL-IC, XLS-33 | Not publicly stated | ERC-3643 (T-REX) | Not publicly stated |
| White-Label | Full white-label suite | Limited / partnership-based | Enterprise deployments | SaaS platform |
| Asset Classes | Real estate, equity, debt, commodities, funds | Funds, equity, real estate, credit | Equity, bonds, real estate, funds | Equity, real estate, revenue-based |
| KYC/AML | Built-in, with on-chain identity claims and compliance enforced on-chain | Integrated (SEC-registered) | On-chain identity (ONCHAINID) | Integrated third-party |
| In-platform custodian wallet | Yes — built-in custodian wallets for investors and issuers on EVM, Cardano and XRPL | Not publicly stated | Not publicly stated | Not publicly stated |
| Gas sponsored for investors | Yes — investors pay no network fees at custodian checkout | Not publicly stated | Not publicly stated | Not publicly stated |
| Payment methods & currencies | Card, bank wire, USDC/USDT, RLUSD/USDC on XRPL or custodian balance; card and wire in USD, EUR or GBP | Not publicly stated | Not publicly stated | Not publicly stated |
| Structuring module | Yes — offering-pack drafting for El Salvador, US, EU and Cayman Islands (Beta; drafts for your counsel) | Not publicly stated | Not publicly stated | Not publicly stated |
| Distribution Hub (capital raising) | Yes — investor CRM and pipeline, plus Libby AI investor discovery | States an investor platform and issuer tools for prospect pipeline and onboarding | States distribution through the DINO Distribution Network | States an investor portal and a Partner Marketplace; CRM not publicly stated |
| Co-listing across platforms | Yes — Ecosystem Directory: list on other Libertum-powered marketplaces with the host’s approval | Not publicly stated | Not publicly stated | Not publicly stated |
| Security | Hashlock penetration test: rated ‘Secure’ (Oct 2025); smart contracts audited by Hashlock (audits) (security) | See its website | Cites SOC 2 compliance and third-party smart-contract audits | Cites ISO 27001, 27701 and 27018 certifications |
| Jurisdictions | Regulated entities: El Salvador, US, UAE. Structuring packs: El Salvador, US, EU, Cayman Islands. Mainnets: Base, Ethereum, Polygon, Arbitrum, Cardano, XRP Ledger | States US (SEC/FINRA) and EU (CNMV) entities | Luxembourg-based (part of Apex Group) | Spain-based (BRICKKEN Solutions S.L.); states MiCA alignment |
| Pricing Model | Published plans from $299 a month, plus usage (plans) | Enterprise / AUM-based | Enterprise licensing | SaaS subscription tiers |
| Best For | Issuers, asset managers and institutions that want regulated custody, built-in wallets and capital-raising tools under their own brand | Large institutions and fund managers in the US | European enterprises needing ERC-3643 compliance | SMEs and startups in the EU seeking quick deployment |
Competitor cells reflect what each company states on its own website (checked 16 October 2026); "Not publicly stated" means we did not find it there. See the head-to-head pages below for sources.
Libertum provides modular, white-label tokenization infrastructure backed by regulated entities: a CNAD-registered Digital Asset Service Provider in El Salvador (PSAD-0094), a FinCEN-registered Money Services Business in the US and an entity in the UAE. The platform issues ERC-3643, ERC-20 and ERC-721 tokens on EVM networks, CIP-113 and CIP-20 tokens on Cardano, and issued currencies and XLS-33 MPTs on the XRP Ledger.
The product suite includes T-Suite for token issuance and lifecycle management (with built-in custodian wallets, gas-sponsored custodian checkout and a P2P secondary market live on Base mainnet), Funds for fund administrators, Structuring for drafting offering documents with your counsel, Distribution Hub and Libby AI for raising capital, the Ecosystem Directory for co-listing offerings on partner marketplaces, and Stablecoin Studio. B-DEX, a bonding-curve exchange, is a preview and not live. Each module can be deployed independently or as a unified platform.
The platform is built for issuers, asset managers, fund administrators and institutions that want infrastructure they can operate under their own brand, with published pricing from $299 a month.
Best for: Issuers, asset managers and institutions that want a branded, multi-chain platform with regulated custody, built-in wallets and capital-raising tools.
Key differentiator: Regulated entities (CNAD-registered DASP PSAD-0094, FinCEN MSB) combined with built-in custodian wallets, sponsored gas at checkout, structuring, investor distribution and co-listing — in one white-label platform.
Securitize is one of the most established names in security token infrastructure, operating as an SEC-registered transfer agent and alternative trading system (ATS). The platform has powered high-profile tokenization projects, including its partnership with BlackRock on the BUIDL tokenized treasury fund.
Its website states that transfer restrictions are enforced through smart contracts. Securitize is particularly strong in the US regulatory landscape, supporting Regulation D, Regulation S, and Regulation A+ offerings. Its integrated marketplace provides secondary liquidity for tokenized securities.
While Securitize excels at institutional fund tokenization and US compliance, its proprietary protocol and enterprise-level pricing can be barriers for smaller issuers or organizations outside the US looking for more flexibility.
Best for: Large institutional fund managers and US-based issuers needing SEC-compliant tokenization with secondary market access.
Key differentiator: SEC-registered transfer agent with integrated ATS and marquee institutional partnerships including BlackRock.
Tokeny is the creator of the ERC-3643 token standard (also known as T-REX), which has become the most widely adopted open-source standard for permissioned security tokens. The platform has facilitated the tokenization of over $32 billion in assets, making it one of the most proven solutions in the enterprise segment.
Tokeny's strength lies in its on-chain identity framework (ONCHAINID), which embeds compliance rules directly into the token contract. This enables automated, real-time transfer validation without relying on centralized gatekeepers. The platform is deeply integrated with European regulatory frameworks and is particularly popular among large financial institutions in the EU.
As an enterprise-focused solution, Tokeny is best suited for large organizations with significant tokenization volumes. Smaller issuers or those seeking a self-service model may find the onboarding process and licensing costs more demanding.
Best for: Large European enterprises and financial institutions needing battle-tested ERC-3643 compliance infrastructure at scale.
Key differentiator: Creator of ERC-3643, with $32B+ in tokenized assets and deep on-chain identity integration through ONCHAINID.
Brickken offers a no-code tokenization platform designed for accessibility. Based in Spain, the platform targets SMEs, startups, and mid-market companies that want to tokenize assets without deep technical expertise. Brickken is among the first platforms to align with the EU's MiCA (Markets in Crypto-Assets) regulation.
The platform provides a guided workflow for creating token offerings, managing investor relations, and handling compliance documentation. Its drag-and-drop interface and template-based approach lower the barrier to entry significantly compared to enterprise-grade alternatives.
Brickken is well-positioned for the EU market, particularly for organizations that prioritize speed to market and simplicity over deep customization. However, its SaaS model may be less suitable for institutions requiring full white-label deployments or multi-chain support.
Best for: EU-based SMEs and startups seeking fast, no-code tokenization with stated MiCA alignment.
Key differentiator: No-code platform with early MiCA alignment, making tokenization accessible to non-technical teams in the EU.
Go deeper with a one-to-one comparison of Libertum against each platform.
Libertum operates through regulated entities. Libertum, S.A. de C.V. is a CNAD-registered Digital Asset Service Provider in El Salvador (PSAD-0094) for custody, exchange and transfer of USDT and USDC and receipt and transmission of client orders, with RLUSD custody approved; the registration covers these services in El Salvador. Libertum LLC is registered with FinCEN as a Money Services Business (31000312444528). These registrations do not authorise Libertum to issue securities. See licences.
No. T-Suite includes platform-managed custodian wallets for investors and issuers on EVM networks, Cardano and the XRP Ledger, enabled per deployment. Investors can also connect their own wallet or pay by card or bank wire.
Not at custodian checkout: when an investor pays from the custodian balance, network fees are sponsored and billed to the offering’s issuer. Investors are never charged network fees for XRP Ledger transactions.
Card, bank wire, USDC or USDT on EVM networks, RLUSD or USDC on the XRP Ledger, and the custodian balance. Card and wire payments settle in USD, EUR or GBP, chosen per offering. See the investor guide.
No. Structuring is drafting software: it helps you and your counsel prepare offering documents with packs for El Salvador, the US, the EU and the Cayman Islands. It is not legal advice, and every document is a draft for your own counsel to review.
Distribution Hub gives you an investor CRM and pipeline, Libby AI adds AI investor discovery, and the Ecosystem Directory lets you co-list an approved offering on other Libertum-powered marketplaces, with the host’s approval, to reach their investors.
Independently penetration tested and audited by Hashlock — rated ‘Secure’ (Oct 2025 blackbox penetration test of the T-Suite web applications; no critical or high-severity findings), plus Hashlock smart-contract audits. See the audits and the penetration-test report. More on our security page.
Choose Libertum if you want a white-label platform under your own brand that is backed by regulated entities, gives investors built-in custodian wallets with no network fees at checkout, and adds the tools to raise capital — structuring drafts for your counsel, Distribution Hub with Libby AI, and co-listing on partner marketplaces — across EVM networks, Cardano and the XRP Ledger.
Choose Securitize if you are a large US-based institution or fund manager that needs SEC-registered infrastructure with integrated secondary market liquidity.
Choose Tokeny if you are a European enterprise with large tokenization volumes that requires battle-tested ERC-3643 compliance and on-chain identity management.
Choose Brickken if you are an EU-based SME or startup that needs to get to market quickly with a no-code tokenization solution that states MiCA alignment.