Actively Managed Certificates. Freely transferable. Fully composable in DeFi..
A $1.2T product class globally — issued by UBS, BNP Paribas, Morgan Stanley, Barclays and the major investment banks. Tokenised on Assetize: same legal certainty, but freely transferable peer-to-peer and fully composable in DeFi. That is the key difference vs a fund. Issued in weeks via our regulatory-compliant issuer platforms, or as a bespoke standalone vehicle.
Actively Managed Certificates.
An Actively Managed Certificate (AMC) is a regulatory compliant wrapper that lets an issuer track a defined investment strategy or basket. Familiar in TradFi from over $1.2 trillion of issuance through the major investment banks — UBS, BNP Paribas, Morgan Stanley, Barclays and others. The AMC is a debt instrument — a certificate or note referencing the performance of an underlying portfolio — not a fund interest.
The key difference vs a tokenised fund: the AMC token is freely transferable peer-to-peer and fully composable in DeFi. That is what makes it interesting on-chain. You're not stuck inside a closed permissioned register — you can move it between counterparties directly, use it as collateral, supply it into yield strategies, or list it on a venue that supports DeFi-native settlement. The legal certainty of an institutional structured product, with the operational fluidity of a token.
Assetize tokenises the AMC. Same legal nature, same investor protections, same issuance mechanics — issued and traded as on-chain tokens, with the register replaced by a smart contract. Our regulatory-compliant issuer platforms provide speed-to-market — most AMC issuers go live in 2–4 weeks. For issuers with bespoke requirements (a structured product programme, an unusual underlying, an investor base in a jurisdiction outside our platform footprint), we can also structure standalone issuance vehicles.
AMCs are the right answer for asset managers tracking a defined strategy, basket or index — and increasingly the preferred alternative for issuers who would historically have launched a fund. Free transferability and DeFi composability is the moat.
Built for managers who want to distribute differently.
Asset managers tracking strategies
Run a model portfolio, index strategy or actively-managed book you want to make investable. AMC wraps the strategy as an investable certificate with a clear payout linked to NAV.
Digital asset and crypto managers
Want institutional-grade product packaging without the cost and timeline of a regulated fund vehicle. AMC delivers familiar structured-product mechanics in a faster, more modular wrapper.
Distributors building new programmes
Looking for a tokenisation-ready format that maps onto the structured-products world your distribution channels already understand — but with on-chain settlement and a wider addressable investor base.
Four steps from term sheet to live token.
The same structuring path you'd follow for a non-tokenised product, with the smart-contract and identity-registry pieces wired in from the start.
Vehicle
New cell or vehicle established under one of our two issuer platforms — or a standalone vehicle where required.
Strategy
Strategy or basket defined. NAV calculation methodology agreed with administrator.
Mint
Issuance under the relevant regulatory framework. Identity-gated investor onboarding.
Manage
Strategy executed; NAV oracle publishes; subscriptions/redemptions atomic against cash leg.
Familiar regulator. Same protections.
Regulatory-compliant issuer platforms, plus bespoke vehicles where needed
AMCs are issued across our regulatory-compliant issuer platforms in leading international financial centres, providing speed to market for most issuers. For issuers with bespoke requirements, we can also structure standalone issuance vehicles in other jurisdictions where we operate.
- →Out-of-the-box issuance via our regulatory-compliant issuer platforms — most AMCs live in 2–4 weeks
- →Bespoke standalone vehicles available where the issuer's requirements exceed the platforms
- →Statutory segregation between cells / between vehicles — bankruptcy-remote
- →Pre-wired and onboarded panels of regulated custody, banking, brokerage and execution providers
Side by side.
| Feature | Bank-issued AMC | Tokenised Fund | Tokenised AMC on Assetize |
|---|---|---|---|
| Issuer | Bank balance sheet | Fund vehicle | Segregated cell / SPV |
| Transferability | Limited; private bank channels only | Pre-onboarded investors only | Freely transferable (typically peer-to-peer) |
| DeFi composability | None | Limited | Fully composable in DeFi |
| Distribution | Private bank channels | Permissioned investor base | On-chain wallets; peer-to-peer + DeFi protocols |
| Investor minimum | Usually $1m+ | Fund-level minimum | Configurable, from $1k |
| Speed to launch | 6-12 months | 2-3 months | 2-4 weeks |
| Settlement | T+2 typical | T+1 to same-day | Atomic on-chain |
| Lifecycle ops | Manual, bank-side | Fund admin off-chain | Automated, smart-contract gated |
Common questions.
Is the AMC a fund?+
No. An AMC is a debt instrument — a certificate referencing the performance of a defined strategy or basket. It sits in a different regulatory category to a fund, which makes it typically faster to launch and narrower in scope. For open-ended pooled investment, see Tokenised Funds.
What strategies can the AMC track?+
Equities, ETFs, indices, crypto, commodities, real estate baskets, private credit strategies — anything where a NAV can be calculated and a strategy clearly defined in the offering memorandum.
What chains do you support?+
Issuance is supported on any chain we work with — including EVM Layer 2s and Ethereum Layer 1 by default. Other chains by arrangement. Tokens are issued under permissioned smart contracts that enforce investor onboarding rules.
Can investors redeem at any time?+
Depends on the strategy. The offering memorandum specifies redemption windows; typically monthly or quarterly for liquid strategies, longer for illiquid underlyings. AMCs are typically transferable peer-to-peer and via DeFi protocols, providing liquidity even outside the redemption window for investors who want to exit early.
Related solutions.
Launch actively managed certificates in weeks.
Tell us about the use case — we'll come back to you with a structuring path, an administrator estimate, and a timeline.
Apply to issue →