Tokenisation Of Financial Instruments And Real-World Assets In Malta

The European Union's payments landscape is about to undergo its most significant transformation since PSD2. The forthcoming PSD3 Directive and Payment Services Regulation (PSR) package expected to enter into force in mid-2026 will reshape the licensing, conduct, and operational requirements for every payment institution, electronic money institution, and crypto-asset service provider operating in the EU. This is not a distant regulatory event. The transitional clock starts on publication, and firms that delay preparation risk losing their authorisation. Here is what you need to know! 

The Malta Financial Services Authority (MFSA) has opened a targeted consultation on tokenising financial instruments and real‑world assets, testing whether distributed ledger technology (DLT) can be integrated into Malta’s financial ecosystem under existing EU and national rules or whether tailored guidance and regulatory change are needed.