Silver Sponsor, Digital Assets Forum, New York
Tokenization without regulated settlement is a digitized cap table.
Zurab Ashvil, founder of L3COS, speaks on the FalconX Stage at Convene, 360 Madison Avenue, on November 13, 2026, on the panel “Is Tokenization Transforming Fund Formation, LP Allocation and Exit Liquidity?”
Meetings are held in the Executive Meeting Room at Convene between 10:00 AM and 3:00 PM and after the panel. Twenty minutes; bring the structure you want to move on-chain and we will show you where it settles.
What we will say on stage.
Most tokenization changes the record of who owns a fund interest. It does not change how that interest is paid for, transferred or redeemed under the fund’s own rules. Until the cash leg, the asset leg and the compliance rules settle on one rail at one moment, the ledger has moved and the settlement has not.
Fund formation
The asset layer. L3RS-1 puts eligibility, transfer rules and governance inside the LP interest, so the instrument itself knows who may hold it and under what conditions.
LP allocation
The cash layer. Fiat-on-Chain settles subscriptions and distributions in tokenized bank deposits anchored in central-bank money, on the same rail as the units.
Exit liquidity
The settlement layer. T3RRA executes delivery-versus-payment with the fund’s rules checked at the moment of transfer. The asset that can settle that way is the asset an LP can actually exit.
Who should meet us.
Issuers and fund sponsors with a regulated instrument to bring to market. Banks considering deposit tokenization. Allocators who want to understand what exit liquidity requires. Regulators and standards bodies interested in L3RS-1 as an open standard.
The speaker.
Zurab Ashvil is the architect of L3COS and the founder of the stack built on it. He created Georgia’s first interbank currency exchange in 1991, was a senior executive at SoftBank Capital, was appointed by SIPC to the Lehman Brothers liquidation in 2008, and in 2020 delivered a CBDC prototype inside the Bank of England’s sandbox. He holds a PhD in Cybernetics and Applied Mathematics. Full biography