Tokenovate Limited

What Tokenovate Limited does

Tokenovate Limited is a UK-based fintech, headquartered in Cambridge/London, that builds a modular SaaS platform automating the post-trade lifecycle for derivatives and securities financing transactions. The platform encodes contractual logic via the FINOS Common Domain Model (CDM), delivering nine CDM-native workflows covering trade matching and affirmation, lifecycle management (resets, amendments, novations), corporate actions and event execution, and settlement orchestration. It targets banks, asset managers, custodians, and other regulated financial institutions, addressing pain points including fragmented post-trade infrastructure, manual reconciliation, T+1 settlement readiness, collateral mobility constraints, and complex regulatory reporting.

The technology stack combines the CDM as the canonical data layer with a UTXO-based blockchain architecture (Bitcoin SV) and the proprietary Novat Protocol, which uses a mint-settle-burn tokenisation cycle to deliver atomic, legally-final settlement without creating parallel ownership records. A standards-agnostic integration layer (Connect) ingests legal agreements and parses FpML, FIXML, ISO 20022, CSV, and JSON, while the Unified Trade Record provides a single authoritative trade state across counterparties. The company holds ISO 27001:2022 certification and participates in the Bank of England Synchronisation Lab.

Tokenovate monetises through a hybrid SaaS model combining fixed and usage-based pricing on multi-year enterprise contracts, supplemented by professional services for client implementations. GTM is exclusively direct enterprise sales targeting financial institutions — no self-serve, marketplace, or channel distribution. Revenue figures, funding rounds, and customer logos are not disclosed in the available data.

Name

Tokenovate Limited

Legal name

Tokenovate Limited

Website

https://tokenovate.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Tokenovate is a UK-based fintech that provides a CDM-native SaaS platform automating post-trade workflows — matching, lifecycle, collateral, and tokenised settlement — for banks, asset managers, custodians, and other regulated financial institutions via direct enterprise sales.

Ownership category

akta.pro rank

Product category

Post-Trade Automation Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Settlement, Clearing & Reconciliation for Tokenized Assets (DvP, PvP, netting, post-trade) (FSAPAIAI)

akta.pro secondary industries

Tokenized Securities & Capital Markets Infrastructure (equities, bonds, funds, ATS/MTF connectivity) (FSAPAIAD), Compliance, Risk & RegTech for Tokenized Assets (KYC/AML, sanctions, travel rule, reporting) (FSAPAIAH)

Keywords

• Post-trade automation
• Derivatives lifecycle management
• Tokenised settlement
• Common domain model
• Collateral management software

Headquarters

HQ city

Cambridge

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. SaaS Platform Licensing: Tokenovate is offered as a modular Software-as-a-Service (SaaS) solution with flexible licensing options that include a combination of fixed and usage-based pricing. Access is available via robust, well-documented APIs or through a secure web console, with encrypted authentication and authorisation protocols.
2. Professional Services: The company delivers client projects across post-trade automation and tokenised settlement, suggesting implementation and consulting services alongside the core platform.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Tokenovate sells a modular, cloud-based SaaS platform that automates the post-trade lifecycle for derivatives and securities financing transactions. It combines the FINOS Common Domain Model with smart contracts on a UTXO-based blockchain to deliver deterministic trade matching, lifecycle event processing, collateral management, and atomic tokenised settlement. Revenue is generated through platform licences (hybrid fixed plus usage-based pricing) and implementation services, distributed via direct enterprise sales to regulated financial institutions and accessed through APIs or a secure web console.

Product overview

Tokenovate Limited is a UK-based fintech offering a modular SaaS platform for post-trade automation in capital markets. The core Tokenovate Platform delivers nine distinct CDM-native workflows covering the entire post-trade lifecycle: Lifecycle Foundation (Trade Matching & Affirmation), Lifecycle Management (Resets), Event Execution (Corporate Actions), and Settlement Orchestration (Transfers). Supporting these are six use cases: Trade Data Normalisation, Repurchase Agreements, Collateral Lifecycle Management, Tokenised Settlement & NOVAT, Digital Regulatory Reporting, and T+1 Settlement. The platform is built on the Common Domain Model (CDM) and Unified Trade Record, with Connect providing standards-agnostic integration via FpML, FIXML, ISO 20022, CSV, and JSON. Key innovations include the Novat Protocol—a programmable, legally-enforceable settlement protocol using a mint-settle-burn tokenisation cycle—and AI-driven decision support for exception management.

Differentiator

Problem solved

Functional benefit

Brands

• Novat: A programmable, legally-enforceable settlement protocol that enables instant, auditable, and final settlement in capital markets through a mint-settle-burn tokenisation cycle.
• NOVAT

Products and services

• Tokenovate Platform A modular cloud-based SaaS platform that automates post-trade, collateral, and tokenised settlement lifecycles for capital markets, built around the FINOS Common Domain Model and accessible via APIs or a secure web console. Targeted at banks, asset managers, custodians, and other regulated financial institutions.
• Novat Protocol

Quantifiable outcome

• Studies suggest T+0 settlement could cut exposures by 60-80% compared with T+2 in stress episodes
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and major.

• ISDAcoreStrategic or Co-development Partner · 21 October 2025International Swaps and Derivatives Association partnered with Tokenovate to launch a taskforce developing a smart contract framework within the Common Domain Model (CDM). The initiative extends CDM to include execution logic, starting with automating interest rate resets handling contracts worth trillions of dollars. Tokenovate chairs the FINOS Tokenised Assets Working Group and together with ISDA established a new FINOS taskforce to accelerate real-world CDM adoption.
• FINOScoreStrategic or Co-development PartnerFINOS (Financial Open Source) is the organisation behind the Common Domain Model. Tokenovate actively contributes to FINOS initiatives, chairs the Tokenised Assets Working Group, and co-established a taskforce with ISDA to accelerate CDM adoption. The CDM provides the standardised, machine-readable framework representing financial products and lifecycle events.
• Investment Association (IA)coreStrategic or Co-development PartnerTokenovate collaborates with the Investment Association on the Living Lab, an interactive workshop project exploring CDM operationalisation. Tokenovate also sponsors IA events on collateral management and participated in IA's Engine Innovator Programme selection.
• sCryptcoreTechnology or IntegrationsCrypt provides a UTXO-blockchain development platform offering tools and infrastructure that Tokenovate uses to develop smart contracts. sCrypt enables development at a higher level which is faster, less error-prone, and achievable by a wider pool of developers. Tokenovate has a growing library of sophisticated smart contract types built using sCrypt's platform.
• ISLAmajorStrategic or Co-development PartnerInternational Securities Lending Association develops standards that Tokenovate integrates into its platform alongside ISDA and ICMA standards for standardising trade data and automating lifecycle management.
• ICMAmajorStrategic or Co-development PartnerInternational Capital Market Association develops standards that Tokenovate integrates into its platform alongside ISDA and ISLA standards for standardising trade data and automating lifecycle management.
• Bank of England Synchronisation LabmajorStrategic or Co-development PartnerTokenovate selected as participant in Bank of England's six-month Synchronisation Lab pilot exploring tokenized asset settlement alongside 18 other companies including market infrastructure providers, banks, fintechs, and Web3 firms.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Digital Asset Holdings: Enterprise DLT platform for capital markets with similar DvP, PvP, and post-trade automation ambitions. Direct competitor in tokenised settlement and post-trade infrastructure for regulated financial institutions.
• HQLAx: DLT-based collateral mobility platform for cross-custodian transfers using a 'side ledger' architecture. Directly comparable to Tokenovate's collateral lifecycle and tokenised settlement use cases.
• Fnality International: Wholesale CBDC and tokenised settlement utility backed by major global banks. Competes in the same DvP and PvP settlement space that Novat targets, though via a central-bank-issued settlement asset rather than protocol-level tokenisation.
• R3: Corda enterprise blockchain platform used by financial institutions for post-trade and capital markets workflows. Competes for CDM-native deployments and tokenised collateral initiatives across the same regulated buyer base.
• SETL: DLT-based settlement infrastructure provider targeting wholesale securities and asset servicing. Overlaps with Tokenovate's Novat protocol use case for near-instant tokenised settlement.

Broad incumbents

• Broadridge Financial Solutions: Large post-trade and investor communications vendor serving global banks and asset managers. Offers adjacent capabilities in trade processing and reconciliation and could add CDM-native automation to its portfolio.
• ION Group: Provider of mission-critical workflow solutions for capital markets, treasury, and post-trade. Competes broadly in the same post-trade automation category with a much larger installed base and salesforce.
• Adenza: Holding company for Calypso and Murex, leading capital markets and post-trade platforms used by global banks. Most direct large-scale incumbent to Tokenovate's collateral, repo, and lifecycle automation ambitions.
• FIS: Large financial technology provider with significant post-trade, securities processing, and capital markets software offerings. Potential broad incumbent competing for the same institutional wallet share.
• DTCC: US-centric post-trade market utility operating central securities depositories and clearing infrastructure. Active in tokenisation initiatives and a potential incumbent partner or competitor for tokenised settlement workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@Tokenovate
• LinkedInuk.linkedin.com/company/tokenovate
• Xx.com/WeAreTokenovate

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tokenovate Limited