--- title: CPMI Sets Criteria For Designing Digital Tokens description: Important considerations include availability, privacy and regulatory compliance, and interoperability. image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_156951870_l-2015-May-12-2022-09-29-26-33-AM.jpg --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/cpmi-sets-criteria-for-designing-digital-tokens#popup-newsletter) #### Want the latest news on securities markets -- FREE? Sign up to receive exclusive articles on topics including: - Equity market structure - Profiles of buy-side investment firms - The evolution of multi-asset-class trading - Regulation and its implications for markets - The search for liquidity in fixed income markets - The convergence of fintech and capital markets Select one or more newsletters you would like to receive: menu [![Markerts media](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/header%20logo.svg "Markerts media")](https://articles.marketsmedia.com/) - [Regulation](https://articles.marketsmedia.com/tag/regulation) - Regulation - CPMI Sets Criteria For Designing Digital Tokens Search - [Home](https://articles.marketsmedia.com/) - [Trending](https://articles.marketsmedia.com/tag/trending) - [Featured](https://articles.marketsmedia.com/tag/daily-email-feature) - [Sectors](https://articles.marketsmedia.com/tag/sectors) - [From The Markets](https://articles.marketsmedia.com/tag/from-the-markets) - [AWARDS](https://articles.marketsmedia.com/tag/events) - [Newsletter](https://awards.marketsmedia.com/newsletter-sign-up) - [Newsletter](https://articles.marketsmedia.com/cpmi-sets-criteria-for-designing-digital-tokens#popup-newsletter) Hide search Search - NewsLetter ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/trading-up-occ-iex-select-board-members-citadel-lands-lieblich-573x379-Jul-07-2022-09-34-11-57-AM.jpg) [ON THE MOVE: Citi Hires Artie Ambrose;...](https://articles.marketsmedia.com/on-the-move-citi-hires-artie-ambrose-natalie-a-brown-to-mesirow) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_445735906_L.jpg) [Trading Adapts to ESG and Sustainable...](https://articles.marketsmedia.com/trading-adapts-to-esg-and-sustainable-investing) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/iStock-917493152-Jul-07-2022-09-34-19-09-AM.jpg) [Focus on FX Execution Connectivity](https://articles.marketsmedia.com/focus-on-fx-execution-connectivity) ![](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_333839538_L.jpg) [TRACE Turns 20](https://articles.marketsmedia.com/trace-turns-20) 12.16.2019 By Shanny Basar Regulation # CPMI Sets Criteria For Designing Digital Tokens 12.16.2019 By Shanny Basar ![CPMI Sets Criteria For Designing Digital Tokens](https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/Depositphotos_156951870_l-2015-May-12-2022-09-29-26-33-AM.jpg) [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/cpmi-sets-criteria-for-designing-digital-tokens) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/cpmi-sets-criteria-for-designing-digital-tokens) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/cpmi-sets-criteria-for-designing-digital-tokens) A new report by the Committee on Payments and Market Infrastructures (CPMI) sets out a list of criteria for developers and market participants to consider when designing digital tokens for use in wholesale transactions. https://twitter.com/BIS\_org/status/1205133562736979979 The [Wholesale digital tokens report](https://www.bis.org/cpmi/publ/d190.htm) describes the potential innovations and design questions associated with digital tokens that could be used to settle wholesale, or large-value, payments, made possible by new technologies such as blockchain, or distributed ledger technology. Private developers are exploring several applications for wholesale digital tokens. While these could be developed simply to make payments, many initiatives also seek to provide the payment leg of tokenised securities and FX transactions, where a token represents a share, bond or other financial asset. The report only covers variants of digital tokens issued by identifiable issuers and denominated in sovereign currency. It is not directed at so-called "stablecoins" for retail payments. Benoît Cœuré, Chair of the CPMI, said: "This report outlines useful considerations for token designers. However, there is no single roadmap for success. Success will depend on whether wholesale digital tokens can provide both improved safety and increased efficiency over the traditional account-based settlement assets used today." The report describes the critical elements of wholesale digital token arrangements and discusses some potential design choices. It also includes a non-exhaustive list of questions that token developers may need to consider. Important considerations include availability, issuance and redemption, access, underlying assets/funds and claims, transfer mechanism, privacy and regulatory compliance, and interoperability. Source: BIS [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/cpmi-sets-criteria-for-designing-digital-tokens) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/cpmi-sets-criteria-for-designing-digital-tokens) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/cpmi-sets-criteria-for-designing-digital-tokens) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. 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