Institutional Research Unit

Working Papers Series

DCM Working Paper No. 2026/01

Liquidity Resilience in Tokenized Secondary Markets: An Institutional Framework

Dr. Marcus Aurelius • Head of Research January 2026

This paper examines the impact of atomicity on settlement finality and its implications for systemic liquidity buffers. We propose a new stress-test methodology for distributed registers, aligning with Basel III liquidity coverage ratios.

DCM Working Paper No. 2025/12

Cross-Border CBDC Interoperability: Architectural Models for Central Bank Reserves

Elena Volkov • Senior Policy Analyst December 2025

An analysis of hybrid minting models and their synchronization across heterogeneous ledger environments. We evaluate the trade-offs between privacy-preserving zero-knowledge proofs and regulatory compliance.

DCM Working Paper No. 2025/11

Fragmented Regulation: The Impact of MiCA vs. FIT21 on Institutional Market Participation

Sarah Chen • Regulatory Lead November 2025

This study maps the divergence in asset classification between EU and US frameworks, identifying potential arbitrage vectors and their effect on institutional capital flows into tokenized bonds.

How to Cite this Research
Standard Format (Harvard) DCM Core Institute (2026). *Research & Working Papers Collection*. [Online] Available at: https://dcmcore.com/en/research-papers/index.html
BibTeX @online{dcmcore_research2026,
  author = {DCM Core Institute},
  title = {Research \& Working Papers Collection},
  year = {2026},
  url = {https://dcmcore.com/en/research-papers/index.html}
}