LetzToken moves beyond tokenization with €1.5M-funded shared fund ledger
What's the deal? Luxembourg-based LetzTokenDealroom has a profile for this one. Try Dealroom → has launched a shared register for investment funds, built on distributed ledger technology (DLT) to give fund stakeholders a single, common list of unit-holders. Announced on October 26, the system goes live by the end of 2026, with the first two funds — not yet named — adopting it in 2027.
Why now? A €1.5m round raised in the spring is funding development, now expected to take nine months rather than the planned twelve. The launch follows Luxembourg's Blockchain Law IV, under which licensed firms can run the control agent function while LetzToken supplies the infrastructure.
The key hire: LetzToken appointed Petra Krizan as chief strategy officer in September to support the register's development. She joins from The Blockhouse Technology, where she was managing director overseeing blockchain infrastructure, digital asset custody, and digital identity systems. The team has grown from two to nine people in a year, and Pierre Kreemer and Patrick Wies have joined the board.
What's the product? Today a Luxembourg fund maintains the same investor list in "three or four different places, and pays teams to check that they are all saying the same thing," says chief executive officer Arthur Salkin. The register lets each participant view a single record with their own access rights, cutting the reconciliation work during subscriptions, redemptions, and transfers.
What's the endgame? This first version covers only the back office; payments and settlement operate as before. "We are not a licence shop and we are not trying to become one," says Salkin. LetzToken later plans to link payments and settlement to the ledger, then connect the registers of different institutions.
Why it can work: "We're not starting from scratch," Salkin says. The technology has maintained tokenised securities registers for nearly five years on LetzToken's existing platforms, BlocHomeDealroom has a profile for this one. Try Dealroom → and ReboostDealroom has a profile for this one. Try Dealroom →. Since 2021, BlocHome has let more than 400 individuals invest in a Luxembourg residential complex; Reboost has financed housing construction since 2025, raising nearly €2m for its first two projects.
What could go wrong? The register is a back-office record, not tokenized issuance or on-chain settlement. Its value depends on adoption and proven efficiency — not the technology alone. Future phases also hinge on the regulatory framework and deals with licensed institutions.
The signal: LetzToken's launch tests whether DLT can cut reconciliation work in established fund operations, rather than reinventing issuance. It lands amid a broader shift in Luxembourg from tokenization pilots toward regulated fund infrastructure, with players like ClearstreamDealroom has a profile for this one. Try Dealroom → and GeneraliDealroom has a profile for this one. Try Dealroom → moving in parallel. The narrower bet: fix the costly, invisible plumbing first.
Read more: en.paperjam.lu
Image credit: LetzToken
