Global Digital Asset Forum Vienna: The ART Market Today

Why have asset-referenced tokens not yet gained momentum in the European market? This topic was explored by Benjamin Levit (Bluechip) during our event “MiCA & Asset-Referenced Tokens: Design, Risks and Market Reality.”

His presentation provided a market-focused perspective on asset-referenced tokens (ARTs) and examined why, despite their potential use cases, no licensed ART issuer has yet emerged in the European Union. He compared the ART framework with the significantly more developed market for e-money tokens (EMTs), highlighting regulatory hurdles, authorisation requirements, governance obligations, and legal uncertainty as key factors limiting market adoption. He also discussed the future potential of commodity-backed and tokenised real-world asset structures, as well as the conditions that may be necessary for the ART market to gain traction. 

The event took place as part of ViennaUP Week and the Global Digital Asset Forum Vienna and was jointly organised by CERHA HEMPEL and the DAAA | Digital Assets Association Austria. It provided a platform for discussing current developments in the European regulatory framework for digital assets and their implications for market participants.

Watch Benjamin Levit’s presentation here