Unlocking institutional liquidity through open, multi-chain interoperability

Problem

Tokenization promises institutions more efficient capital, deeper liquidity, and entirely new lines of revenue – but only for those able to transact freely across the market. Tokenized real-world assets, counterparties, and custodians operate on separate chains and legacy systems that were never built to interoperate, and institutions are hesitant to abandon infrastructure it has spent decades building. That disconnection is preventing the full realization of how tokenization can revolutionize financial markets.

Solution

Ownera removes those barriers with FinP2P, an open-source protocol that lets institutions interoperate without converging on any single platform. Each one connects through Ownera once, then transacts with any counterparty, custodian, or network on the other side – keeping its own systems, chains, and controls fully intact. Hedera anchors it as production-grade settlement infrastructure, letting assets settle in minutes with an immutable, auditable record.

Fragmentation is the biggest risk to tokenized markets and Ownera has solved it by building an open, multi-chain orchestration layer that securely connects institutions across separate chains and platforms. Hedera gives us the speed, finality, and institutional trust needed to settle tokenized collateral in minutes for any counterparty, on any network.

Ami Ben-David

Founder & CEO

Financial hurdles in legacy market infrastructure

Financial institutions around the world see the potential of tokenization and tokenized assets as a way to use capital more efficiently, access new sources of liquidity, and create new lines of business. Unfortunately, realizing these opportunities depends on solving harder problems first. 

Every institution exploring tokenization eventually confronts the same choice. Consolidate all activity, liquidity, and counterparties onto a single blockchain, or find a way to operate across many chains at once. Few institutions can justify the first option. They have built infrastructure over decades that cannot be replaced overnight, and committing the business to one technology is an unacceptable risk.

That leaves the more difficult path of connecting everything without requiring anyone to standardize. That means building custom, bilateral integrations for every counterparty and every new blockchain. This is a costly, time consuming, and often manual approach that is impossible to scale.

This fragmentation is the biggest challenge standing in the way of tokenized markets today. True interoperability demands more than moving assets between chains, it requires connecting banks, custodians, and counterparties that are running on systems never designed to communicate with one another.

Solving fragmentation through open-source design

Ownera has solved the fragmentation challenge by pioneering the creation of FinP2P, an open orchestration protocol that connects institutions directly to one another as well as the custodians and counterparties they depend on. Institutions connect once and gain the ability to negotiate, orchestrate, and settle transactions across any combination of blockchains and legacy platforms, all while retaining full control over their own systems.

Hedera anchors this architecture as production grade settlement infrastructure, offering the speed, finality, and auditability that regulated institutions demand. Assets issued natively on Hedera settle in minutes rather than days, with every transaction leaving an immutable, transparent record. FinP2P then extends that reach further, connecting Hedera-native assets to counterparties operating on other blockchain networks entirely. 

The result is that Ownera enables institutions to connect once, reach everywhere, and fully realize the potential of tokenization.

How Ownera connects institutional finance with FinP2P

Each participant deploys an Ownera router which is an institutional gateway that connects a financial institution’s internal platforms, custodians, smart contracts, and blockchains to the wider digital asset market. FinP2P provides the open protocol that enables these routers to communicate and coordinate transactions directly. Once connected, a router uses FinP2P to identify assets and users, apply permissions, route transaction instructions, and orchestrate workflows across counterparties and networks. Together, the router and protocol replace the need for repeated, “single use” bilateral integrations with reusable, many-to-many connectivity. This reduces implementation costs and operational complexity while helping institutions launch services faster, reach more counterparties, access broader liquidity, and add applications without replacing their existing infrastructure or giving up control of their technology.

In addition to this infrastructure, Ownera offers a library of SuperApps which are ready-to-deploy institutional grade financial applications that use Ownera’s FinP2P network to perform specific business functions. 

SuperApps are powerful and highly scalable solutions offering cross-chain interoperability, ready-made services, and unified workflows that coordinate each step of a transaction across counterparties and their underlying technologies. SuperApps support a wide variety of activities such as trading, collateral mobility, intraday repo, payments, tokenization, and cross-chain asset transfers. All without requiring institutions to manage each connection or process individually. These are developed by Ownera, third-party technology providers, and a wide partner network composed of leaders in global finance and made available through Ownera’s open SuperApp marketplace.

Why Hedera

Ownera’s decision to expand on Hedera was driven by the institutions using its infrastructure. As Founder and CEO Ami Ben-David explained, “the market chose Hedera,” and Ownera responded by connecting the Hedera network to its open, multi-chain ecosystem. Hedera Council – led by leading global organizations spread across both industry and jurisdiction – gives regulated institutions confidence in the network’s governance, stability, and oversight. The network’s rapid finality, high throughput, scalability, predictable pricing, and immutable transaction record also make it a perfect fit for financial workflows that require speed, control, and auditability.

Ownera began working with Hedera through its partnership with Archax and demonstrated live purchasing of tokenized MMFs in November 2023. That work expanded through the GDF UK & EU Working Group and GDF-ISDA US Tokenized Money Market Fund (TMMF) Working Group and Industry Sandboxes, the latter of which were powered by Ownera. Leveraging the FinP2P protocol, Ownera’s enabled connectivity among participating institutions, and Hedera provided settlement infrastructure for regulated fund tokens and collateral workflows. 

This initiative demonstrated several uses for Hedera that included issuing and settling tokenized money market funds, completing uncleared initial-margin (UMR) workflows, and controlling collateral through smart-contract logic that automated segregation, pledgor protections, and release. Major asset managers, banks, and clearers including Fidelity, Federated Hermes, JPMorgan, US Bank, and Citi tested the movement of regulated collateral through these workflows. Ownera’s FinP2P protocol, together with cross-chain technology from LayerZero, extended Hedera-based collateral to counterparties operating on other networks. This combination positioned Hedera as a trusted settlement foundation while preserving the open, multi-chain access institutions required.

Continued momentum, at scale

Ownera’s ambition is bold. It sees 2026 as the year infrastructure gets built at scale, and 2027 as the year that infrastructure starts carrying real volume with a massive shift in the US collateral market moving meaningfully toward tokenized money market funds, which offer yield, instant settlement, and real-time visibility that cash cannot match.

Beyond collateral, Ownera is expanding into new asset classes. A real estate tokenization project with Goldman Sachs, GSDAP, and APEX Group points toward broader real-world asset use cases ahead, alongside growing activity in tokenized treasuries.

The road to tokenization is being laid by Ownera, and Hedera is excited to be a part of their future.