About Inside Digital Assets - Tokenization, Digital Assets and new market infrastructures
Inside Digital Assets is the interview podcast on tokenization, digital assets, and the technologies that make them viable for capital markets. We focus on real-world use cases from issuance and structuring to trading, settlement, and custody, all the way to governance, compliance, and technology.
Host Lidia Kurt (CEO of BX Digital & Seturion), Sven Wilke (CGO Seturion) and members of her team talk with people driving this transformation, about concrete projects, emerging market infrastructures, and the operational and regulatory implementation of digital assets across the value chain.
What to expect (every two weeks):
đ¤Institutional perspectives and real-world use cases: issuance, trading, settlement, custody of tokenized assets
đ¤Practical insights on opportunities, limitations, and implementation questions
đ¤Interviews with experts from market infrastructure, banks, issuers, tech, and regulation
Episodes are published in German or English. Listen and subscribe!đ
Ten years ago, Bank Frick launched Europe's first crypto-backed note. Today, they're building the regulated infrastructure that will make tokenization invisible to the market, as essential and taken for granted as SWIFT. In this episode, Raphael Haldner, Head of Banking Solutions at Bank Frick, shares the full journey from 2017 to today and offers a compelling vision for the next decade of capital markets.
The conversation reveals how institutional client demands have fundamentally transformed. What began as demand for basic trading and custody access has evolved into sophisticated requests for regulated banking infrastructure that seamlessly integrates fiat and stablecoin accounts, permissioned blockchain environments, and compliance-first product development. Raphael explains why money market funds on-chain, brought to market by Franklin Templeton, BlackRock, and others, represent a treasury revolution, with interest paid on a minute-by-minute basis rather than daily or quarterly settlement cycles.
A critical insight emerges: the early tokenization experiments of 2018 failed not because of technology, but because of missing infrastructure. Regulated secondary markets, standardized stablecoins, and institutional market makers were the missing pieces. Now that players like Seturion are building these solutions, the market is finally ready to scale. Raphael also discusses how DeFi and TradFi are converging in permissioned environments regulated blockchains where users are identified but the infrastructure remains decentralized. Bank Frick's approach combines innovation with rigorous compliance, using a gated product development process to ensure every new offering withstands regulatory scrutiny.
24 Sept 2026
Neue Episode
When Thomas Moser started his career, he had no idea he'd end up at the Swiss National Bankâlet alone leading one of the most ambitious central bank blockchain projects in the world. But sometimes the most interesting paths aren't planned.
In this conversation, Moser walks us through the SNB's bold strategy on digital assets: why they're betting on wholesale CBDC over retail, how Project Helvetia is transforming settlement infrastructure, and why open, composable blockchains might be more important than the technology itself.
We explore the tensions between public and private blockchains, the real threat stablecoins pose to traditional banking, and a future where intraday interest payments on assets become routine. Most importantly, Moser reveals why collaboration and ecosystem building matter more than technological innovation alone.
10 Sept 2026
The Money Market Playbook â a conversation with Mike Reed, Franklin Templeton
In this in-depth conversation, we sit down with Mike Reed, Head of Digital Assets Client Engagement at Franklin Templeton, to explore how the world's leading asset managers are transforming finance through tokenization and blockchain technology.
Mike's story is a masterclass in institutional innovation. Having started in the mail room at Franklin Templeton decades ago, he worked his way through trading, sales, and fixed incomeâall while developing a quiet passion for emerging technologies. That passion led to the creation of Benji, one of the most sophisticated tokenized money market funds in existence.
This episode is not about cryptocurrency speculation. It's about institutional-grade infrastructure that solves real problems for treasurers, exchanges, hedge funds, and global financial institutions.
2 Jul 2026
The Nasdaq x Seturion Alliance: A conversation with Roland Chai [EN]
Host Lidia Kurt interviews Roland Chai, President European Markets and Head of Digital Assets at Nasdaq, about how tokenization and DLT reshape capital markets infrastructure and financial instrument lifecycles.
18 Jun 2026
Solving the Digital Islands Problem - a conversation with Frank Frank Seibold, Chainlink [EN]
Lidia Kurt interviews Frank Seibold, Managing Director at Chainlink, about building the infrastructure for tokenized assets to gain utility in capital markets.
4 Jun 2026
The rational for a shared ledger - a conversation with Ivica AraÄiÄ, SWIAT [EN]
Host Lidia Kurt interviews Ivica AraÄiÄ, CTO of SWIAT, exploring how shared ledgers and tokenized securities can scale in regulated capital markets.
21 May 2026
Making the Eiffel Tower investable via DLT? A converstion with Tom Rieder (ISP Group) [EN]
Host Claudio Tognella interviews Tom Rieder, Head of Digital Assets at ISP Group, exploring the practical implementation of tokenization and its role in future capital market infrastructure.
7 May 2026
Warum Europas Kapitalmarkt neue Infrastruktur braucht: Ein Gespräch mit Dirk Grunert von Morgan Stanley [DE]
Host Lidia Kurt interviews Morgan Stanley's Dirk Grunert about Europe's urgent need for new capital market infrastructure to support tokenization and digital assets.
23 Apr 2026
Fixing Europeâs Issuance Problem: A conversation with Michael Duttlinger (Cashlink) [EN]
Host Lidia Kurt interviews Michael Duttlinger, CEO and Co-Founder of Cashlink, about Europe's digital asset issuance challenges and the crucial role of regulated intermediaries in scaling tokenized capital markets.
9 Apr 2026
Digitale Assets am Wendepunkt: Ein Gespräch mit Christoph Hock (Union Investment) [DE]
Host Lidia Kurt interviews Christoph Hock, Head of Tokenisation and Digital Assets at Union Investment, exploring the evolving landscape of digital assets and the strategic importance of technological shifts for market growth.
26 Mar 2026
Wann wird Tokenisierung wirklich gross? Thomas Eichenberger von Sygnum im Gespräch [DE]
Host Lidia Kurt interviews Sygnum's Thomas Eichenberger about tokenization's path to widespread adoption and the infrastructure needed for digital assets to scale.
Host Lidia Kurt interviews Chartered Investment's Markus Fehn about how tokenized securities revolutionize capital markets by improving efficiency and global accessibility, highlighting the crucial role of cash on-chain.
26 Feb 2026
Tokenisierte Wertpapiere bei Banken: Was sich jetzt wirklich ändert [DE]
Host Lidia Kurt interviews Erik Haubold of UniCredit about how tokenization revolutionizes financial market infrastructure, driving efficiency and innovation in banking.
12 Feb 2026
Tokenized stocks and ETFs: Ian de Bode (Ondo) on Whatâs Next [EN]
In this episode of Inside Digital Assets, host Lidia Kurt is joined by a leading voice from the tokenization space to unpack a key milestone: the partnership between BX Digital and Ondo and what it means for bringing real-world capital market products on-chain.
We discuss how tokenized securities are moving from early pilots to scalable infrastructure,and why many players are starting with highly liquid assets such as U.S. Treasuries, stocks, and ETFs. The conversation dives into what it really takes to âbring TradFi liquidity on-chainâ: price discovery, investor protection, and why connecting trading to efficient settlement remains one of the biggest opportunities.
Youâll also hear what teams have learned since launching a tokenized global markets offering, who is using these products today - from retail investors in underserved markets to crypto-native whales and what still needs to happen for broader institutional adoption.
Key topics in this episode:
- Why tokenization often starts with liquid assets - not illiquid ones
- Access and on-chain collateral as two core use cases driving adoption
- Settlement inefficiencies in TradFi and how tokenized rails can help
- Different tokenization models and why âone size fits allâ is misleading
Whatâs next: leverage, new portfolio structures, and programmable asset management.
If youâre curious how capital markets could look in a tokenized future and whatâs already working today, this episode offers a clear, real-world perspective.
29 Jan 2026
Tokenisierung im Kapitalmarkt: Use Cases, Bankenrollen & regulierter Handel mit Roger Darin [DE]
In dieser Episode spricht Host Lidia Kurt mit Roger Darin (Incore Bank) ßber die Frage, wann Tokenisierung im Kapitalmarkt wirklich Mehrwert schafft und welche Rolle Banken, Regulierung und ein funktionierender Sekundärhandel dabei spielen.
Roger erklärt, wie sich der Markt von âInnovation um der Innovation willenâ hin zu klaren wirtschaftlichen Zielen entwickelt hat. Im Gespräch geht es um tokenisierte Wertpapiere in der Praxis, die Vision durchlässiger Systeme (vom Primärmarkt bis zum regulierten Handelsplatz) und die operativen Herausforderungen rund um Einlieferung, KYC/AML und den Umgang mit Tokens aus dezentralen Ăkosystemen.
Ein weiterer Schwerpunkt: Wie verändern sich Kapitalaufnahme und Emissionen durch Token? Was hat die ICO-Welle 2017 gezeigt und warum werden Token-Ausgaben heute professioneller? Ausserdem diskutieren Beide ßber Custody vs. Self-Custody, Gebßhrenlogiken und warum am Ende nicht die Technologie entscheidet, sondern der Use Case.
Zum Abschluss ordnet Roger ein, warum ein regulierter Sekundärmarkt fßr Digital Assets ein zentraler Baustein fßr Liquidität, Vertrauen und Skalierung ist.
Zu Gast: Roger Darin, Incore Bank
Host: Lidia Kurt, BX Digital / Seturion
Themen in der Episode:
- Tokenisierung im Kapitalmarkt: wann sie Sinn ergibt
- Use Cases, DeFi und Smart Contracts (âtrust but verifyâ)
- KYC/AML, Einlieferung und regulatorische Fragen
- Token-Emissionen, Funding und Learnings aus 2017
- Custody vs. Self-Custody und Kosten/Praktikabilität
- Warum Sekundärhandel und Liquidität entscheidend sind
Inside Digital Assets ist ein gemeinsames Projekt von BX Digital und Seturion.
14 Jan 2026
Europeâs Post-Trade Problem: A conversation with Matthias Voelkel [EN]
In the first episode of Inside Digital Assets, host Lidia Kurt (CEO of BX Digital and Seturion) speaks with Dr Matthias Voelkel, CEO of Boerse Stuttgart Group, about the future of European capital market infrastructure.
They start by discussing a key issue: Europeâs capital markets are highly fragmented, shaped by national silos and complex post-trade structures. Matthias explains how this fragmentation drives higher costs, slower settlement cycles, and barriers to cross-border activity, which ultimately affecting investors.
They discuss why DLT opens a real window of opportunity for change, and what it would take to move toward a more open, pan-European settlement layer. A key point: trading can remain off-chain and largely unchanged, while post-trade settlement (delivery-versus-payment) becomes more efficient using either traditional central-bank payment rails or digital cash options such as stablecoins.
In this episode:
- Why Europeâs capital markets are fragmented and what that means in practice.
- Post-trade and settlement today, including the role of national CSD structures.
- DLT as an enabler for a more integrated European market infrastructure.
- Seturionâs operating model: settlement layer, cash options, trading off-chain, optional issuance.
- A realistic view of how capital markets could evolve over the next 5-10 years.
Inside Digital Assets is a joint project by BX Digital and Seturion. If you enjoyed this episode, subscribe and share it with others.
14 Jan 2026
Inside Digital Assets: Intro
Inside Digital Assets ist der Interview-Podcast Ăźber Tokenisierung, Digital Assets und die Technologien, die sie im Kapitalmarkt praktikabel machen. Im Fokus stehen reale Use Cases: von Emission und Strukturierung Ăźber Handel, Abwicklung und Verwahrung bis zu Governance, Compliance und Technologie-Architektur.
Who has been a guest on Inside Digital Assets - Tokenization, Digital Assets and new market infrastructures
Names identified in recent episode analyses. Showing up to five guests.
Roland Chai
Frank Seibold
Ivica AraÄiÄ
Tom Rieder
Dirk Grunert
Contact Inside Digital Assets - Tokenization, Digital Assets and new market infrastructures
Guest appearances
Books guests
Based on episode analysis; this does not confirm that the show is currently accepting guests.
Questions about Inside Digital Assets - Tokenization, Digital Assets and new market infrastructures
Who hosts Inside Digital Assets - Tokenization, Digital Assets and new market infrastructures?
Lidia Kurt host the show. Published by BX Digital und Seturion.
How often do new episodes come out?
The show publishes bi-weekly, based on its RSS feed.
Does Inside Digital Assets - Tokenization, Digital Assets and new market infrastructures take guests?
Yes. Guests have been identified in episode analyses.
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