Securities Exchange International Joins Digital Securities Testing Environment Alongside Ctrl Alt
Digital Securities Sandbox (DSS) Advances Tokenized Securities Markets
The Digital Securities Sandbox (DSS), a collaborative initiative between the Bank of England, the Financial Conduct Authority (FCA), and companies like SEI and Ctrl Alt, is forging ahead in the exploration of tokenized securities markets within a regulated framework. The aim of the DSS is to develop, test, and advance compliant, scalable tokenization strategies for financial institutions under regulatory oversight [1][2].
The DSS provides end-to-end tokenization workflows, covering consultation, legal structuring, tokenization, deployment, and management, enabling the creation and distribution of digital securities in a compliant manner across multiple jurisdictions.
In terms of progress, Ctrl Alt has actively participated in the DSS alongside SEI, leveraging its experience in tokenizing over $325 million in assets, with a focus on regulatory compliance and institutional-scale solutions. The collaboration is ongoing as of mid-2025, with public announcements made in spring and summer 2025 about their joint involvement [1][2].
As of the latest reports, eight organizations have passed the initial gate of the DSS, including SEI, Ctrl Alt, and Euroclear. Passing Gate 1 does not guarantee progression to Gate 2. Five more organizations have passed Gate 1 since the last report in late January [1][2].
Ctrl Alt has applied to be a direct participant in the DSS alongside SEI. SEI, with a market capitalization of almost $9 billion and $1.6 trillion in assets under management and administration, will provide the assets to be tokenized within the DSS [1][2].
SEI is the world's largest private credit fund administrator by assets and has invested in Ctrl Alt, further strengthening their collaboration in the DSS. Ctrl Alt offers two tokenization products: SPVS 3.0 and Funds 3.0, which are designed to act as an asset wrapper for tokenization and a fund tokenization solution respectively, targeting asset managers wanting to issue funds on a blockchain natively [1][2].
At a glance:
| Aspect | Details | |-----------------------------|-----------------------------------------------------------------| | Purpose | Explore regulated tokenized securities markets; build compliant tokenization workflows for financial institutions | | Participants | Bank of England, FCA, SEI, Ctrl Alt | | Progress | Active collaboration during 2025; Ctrl Alt has tokenized $325M+ in assets and provides full-cycle tokenization solutions | | Organizations passed initial gate | SEI, Ctrl Alt, Euroclear, and five more unnamed organizations | | Applications | Ctrl Alt has applied to be a direct participant in the DSS alongside SEI | | Asset provider | SEI will provide the assets to be tokenized within the DSS | | Investment | SEI has invested in Ctrl Alt | | Products offered by Ctrl Alt | SPVS 3.0 and Funds 3.0 |
No further information was found about additional organizations beyond SEI, Ctrl Alt, Euroclear, and the five unnamed organizations that have passed the initial gate of the DSS [1][2].
[1] Digital Securities Sandbox: A Regulated Approach to Tokenized Securities Markets. (2025). Retrieved from https://www.bankofengland.co.uk/markets/digital-securities-sandbox
[2] The Future of Tokenized Securities: A Collaborative Effort by the Bank of England, FCA, SEI, and Ctrl Alt. (2025). Retrieved from https://www.seic.com/news/press-releases/the-future-of-tokenized-securities-a-collaborative-effort-by-the-bank-of-england-fca-sei-and-ctrl-alt
- The Digital Securities Sandbox (DSS) involves a collaboration between the Bank of England, the Financial Conduct Authority (FCA), and companies like SEI and Ctrl Alt, aiming to advance tokenized securities markets within a regulated framework.
- With Ctrl Alt's experience in tokenizing over $325 million in assets, the DSS offers end-to-end tokenization workflows, ensuring compliant creation and distribution of digital securities across multiple jurisdictions.
- SEI, as the world's largest private credit fund administrator by assets, has invested in Ctrl Alt, further strengthening their collaboration in the DSS, and will provide the assets for tokenization within the DSS.
- The DSS has seen significant progress, with eight organizations, including SEI, Ctrl Alt, and Euroclear, passing the initial gate, and additional organizations continuing to join.
- In addition to SEI and Ctrl Alt, five unnamed organizations have passed the initial gate of the DSS, working towards compliant and scalable tokenization strategies for the finance industry.
- To expand its involvement, Ctrl Alt has applied to be a direct participant in the DSS alongside SEI, offering two tokenization products, SPVS 3.0 and Funds 3.0, designed for asset managers wanting to issue funds on a blockchain natively.
