RWA Tokenization Platform: Build vs Buy
Before you decide, check whether the asset needs a token Tokenization earns its cost in three situations: you need fractional ownership at a scale a spreadsheet cannot manage, you need transfer restrictions enforced automatically across parties who do not share a system of record, or you have a realistic path to secondary transfer through a venue that actually exists. If none of those apply, a token wrapper adds regulatory surface, a key management obligation and an operating cost to something a cap table and a fund administrator already handle competently. A fund with a dozen limited partners and annual distributions does not have a tokenization problem. The version of this worth saying plainly: if there is no venue where holders can trade, tokenizing an illiquid asset produces illiquidity with extra steps. Liquidity comes from buyers and a place to meet them, not from a token standard. Decide whether that place exists before you compare platforms. The build versus buy decision ...