The jointly operated framework is designed to allow fund registers to be maintained directly on the blockchain
-- AlfaR Group, a regulated fund services provider, and Asseto, a full-stack technology infrastructure and tokenization solutions provider, today announced a partnership to launch and jointly operate Asia's first digital transfer agency (DTA) services platform, bringing the core functions of fund transfer agency onto the blockchain. Transfer agents maintain a fund's official register of investors and process its subscriptions, redemptions and transfers. Built on Asseto's blockchain infrastructure, the platform allows this register to be recorded and maintained directly on the blockchain, so that blockchain records can, where fund documents, legal advice and applicable regulatory requirements support that approach, serve as the official record of ownership.
Bringing Transfer Agency onto the Blockchain
Transfer agency has long relied on conventional systems, even as fund managers increasingly use blockchain technology to issue and transfer fund units. As a result, blockchain records often mirror a register maintained elsewhere, requiring continuous reconciliation and leaving a gap between what an investor holds and what the register recognizes. By performing the transfer agency function directly on the blockchain, the DTA platform aims to close that gap.
For fund managers, this means share registration, transfers of registered ownership and redemptions can be handled within one operating framework, with less reconciliation and a clearer audit trail. For investors, it means their holdings on the blockchain can be more closely aligned with their legal ownership.
“To me, the test of tokenization is simple: can it streamline fund operations, facilitate secondary market liquidity and faster settlement for investors, and make it easier for fund managers to raise capital onchain?” said Nicole Shen, Founder of AlfaR Group. “Our partnership with Asseto brings fund administration expertise and onchain distribution together to put tokenization to work in day-to-day fund operations.”
How the DTA Platform Works
Under the jointly operated model, the two companies will pursue long-term business and technology integration. AlfaR, a Singapore-based fund administrator, holds Corporate Service Provider (CSP) and Trust or Company Service Provider (TCSP) licenses, and has obtained an ISAE 3402 Type II assurance report issued by KPMG. It will lead fund administration and investor-facing processes, from onboarding, eligibility checks and wallet allowlisting to NAV calculation, register maintenance and reconciliation. Asseto, whose technology has supported Hong Kong's first tokenized real estate project, will provide the DTA technology layer, including tokenized fund units with investor eligibility and transfer controls, smart contracts governing issuance and redemption, and real-time transaction reporting, together with its digital distribution network.
On the platform, fund units are issued only after receipt of subscription monies and investor eligibility have been confirmed, the applicable subscription price has been determined and an authorized instruction has been issued. Redemptions are processed by locking or cancelling the corresponding units under the applicable fund terms. Transfers, where permitted, remain limited to approved wallets linked to verified, eligible investors and subject to fund-level restrictions. The platform can operate with either the conventional register or the blockchain record as the primary record, depending on each fund's structure and applicable requirements.
"Tokenization has made fund units easy to issue and transfer onchain, but the register behind them has largely stayed offchain," said Bridget Li, CEO and Co-founder of Asseto. "Working with AlfaR, we are combining its fund servicing expertise with our onchain infrastructure so that fund registers can, where fund documents and regulations permit, be maintained directly on the blockchain. This gives fund managers a practical path to run the full fund lifecycle onchain."
Regulatory Momentum and Next Steps
The partnership comes as regulators reconsider how transfer agents keep records. On September 1, the U.S. Securities and Exchange Commission (SEC) proposed amendments to its transfer agent rules that would expressly permit registered transfer agents to use a blockchain or other distributed ledger as their master securityholder file, or a component of it.
AlfaR and Asseto will begin with fund products. The companies see the DTA platform as a foundation for modern fund servicing, and plan to extend DTA services to more asset managers, offering an integrated path from fund issuance to blockchain-based registration.
About AlfaR Group
Founded in 2023 and headquartered in Singapore, AlfaR Group is an AI-enabled fund administration services provider serving fund managers and family offices across the region. The Group supports traditional and digital asset funds throughout the fund lifecycle, combining fund administration expertise with technology that supports fund operations and digital transfer agency. Through in-house technology development and strategic partnerships, AlfaR aims to help fund managers integrate tokenization into their fund operations. Learn more: https://alfar-group.com
About Asseto
Asseto is a full-stack technology infrastructure and tokenization solutions provider bridging traditional finance and DeFi, supporting asset owners from compliance advisory through tokenization, onchain distribution, and settlement. Asseto launched Hong Kong’s first real estate RWA project and has deployed 14 RWA products across multiple blockchains, with tokenized asset volume nearly $500 million. Asseto is backed by HashKey Group, is an alumnus of the BNB Chain MVB program, and is supported by Hong Kong Cyberport. Learn more: https://asseto.finance
Media Contacts
AlfaR Group: Jacky Hu, BDE | https://alfar-group.com | [email protected]
Asseto: Joyce Cui, CMO | https://asseto.finance | [email protected]
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Contact Info:
Name: Joyce Cui
Email: Send Email
Organization: Asseto
Website: https://asseto.finance
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