Apex Group’s Tokeny and Polygon Labs are launching T-REX Ledger, a compliance-focused blockchain designed to allow regulated tokenized assets to move across networks without repetitive investor checks and transfer restrictions.
In a release shared with Cointelegraph on Thursday, the project said it is targeting a key friction point in tokenized markets. ERC-3643 is an Ethereum-based token standard for permissioned tokens representing real-world assets that can support the compliant issuance of RWAs, but identity checks, eligibility rules, and transfer restrictions often remain fragmented when the same asset is distributed across multiple blockchains.
T-REX Ledger is pitched as a shared compliance layer that other chains can query, while settlement continues to take place on external networks. Built with Polygon’s Chain Development Kit and connected to Agglayer, the system is intended to act as a common registry for investor eligibility and transfer rules for tokenized securities.
The launch comes as financial and crypto infrastructure groups race to build infrastructure for tokenized markets. The parent company of the New York Stock Exchange, Intercontinental Exchange, has outlined plans for a new platform for tokenized stocks and exchange-traded funds (ETFs), while the Depository Trust and Clearing Corporation (DTCC) has joined the ERC-3643 Association in 2025 as institutions delve deeper into tokenized collateral and securities infrastructure.
Solving fragmented compliance
The release described the network as a “shared source of truth” for investor eligibility and transfer rules.
The core problem T-REX wants to solve is that ERC-3643 enables compliant issuance, but does not maintain a shared compliance status between chains. For example, the same security measures applied to Ethereum and Polygon still include separate eligibility checks, identity verification, and transfer restrictions.
Joachim Lebrun, co-founder of T-REX Network and chief blockchain officer of Tokeny, told Cointelegraph that T-REX Ledger would support the issuance and lifecycle management of regulated digital securities, including bonds, funds, equities and structured products, with identity, eligibility and transfer rules embedded directly into ERC-3643 tokens.
Apex Group will act as the first onchain transfer agent and plans to adopt T-REX Ledger as its standard multi-chain orchestration layer with an initial target of $100 billion in tokenized assets by June 2027.
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T-REX Ledger centralizes compliance logic into a dedicated chain that other networks can query, while keeping settlement on external chains.
Lebrun said, “The market has become a multi-chain world for tokenization” and argued that T-REX Ledger has turned other blockchains into “distribution channels,” allowing regulated assets to be moved to “where liquidity exists with speed, compliance and control.”
Join the tokenization race
Related: SEC gives Nasdaq the green light for a tokenized trading trial
T-REX positions itself as a neutral registry layer that can sit alongside players in the tokenization race. Lebrun said a security issued through T-REX Ledger “could ultimately be settled at DTCC” because “the compliance validation does not have to occur on the same network as the settlement.”
The chain itself will function as a sovereign Polygon CDK network governed by a dedicated steering committee, while ERC-3643 and its compliance framework will remain open source under the ERC-3643 Association, and not under Polygon.
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