ARTICLE
11 August 2026

What Fund Tokenisation Really Means For Funds And Service Providers | Andrew, Riccardo, & Stephen (Video)

CP
Camilleri Preziosi Advocates

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Camilleri Preziosi commands an outstanding reputation amongst clients and peers as a leading Maltese corporate law firm. We are regularly ranked as a top-tier firm by Chambers, IFLR1000 and Legal 500. We retain a strong commitment to deliver a quality service in the practice of law. We do this by combining technical excellence with a solution-driven approach. Camilleri Preziosi: Technical excellence, practical solutions.
Andrew Caruana Scicluna hosts Riccardo Conti of Fume and Stephen Gauci Baluci of CC Fund Services Limited to examine whether fund tokenisation delivers on its promises of liquidity and efficiency, or simply redistributes existing risks. The discussion explores how atomic settlement, fractional ownership, and smart contracts may reshape the roles of transfer agents, fund administrators, and settlement teams in daily operations.
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In this episode of CP Sound Bites, Andrew Caruana Scicluna sits down with Riccardo Conti, co-founder of Fume, and Stephen Gauci Baluci of CC Fund Services Limited, to look past the hype around fund tokenisation and get into what it changes in practice.

This podcast takes a look at some of the harder questions in this space. Does fractional ownership genuinely create liquidity, or does it simply divide the same investors into smaller tickets? Does atomic settlement truly eliminate counterparty risk, or does it just relocate that risk elsewhere, into the smart contract itself, or into how underlying assets are held and recorded?

The panel also turns to what all this means for the people who currently run fund operations day to day, such as transfer agents, fund administrators, and settlement teams. If smart contracts can eventually handle transfers, admin, and settlement automatically, the question is what is left for these service providers to do, and how they might need to adapt.

 

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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