When Angie Walker joined Apex Digital, there were 31 tokenization projects in flight. One year later, that number had reached 557 — representing approximately 2,000% growth. The surge reflects exploding demand across both the traditional finance and digital asset sides of the business.
Walker revealed the figure during a joint interview alongside Tom Bennett, recorded in connection with the Apex Digital and Mergermarket tokenization survey report. The report surveyed 100 senior managers across funds and asset management, spanning the Americas, EMEA, and APAC, with assets under management ranging from $500 million to $5 billion.
At the time Walker joined, those 31 projects were distributed across multiple stages: design, validation, and build. The fact that the pipeline has scaled to 557 active projects — without that pipeline being described as nascent or experimental — signals that tokenization has moved well beyond early-adopter territory for Apex Digital specifically.
The broader market context supports this reading. Global real-world asset tokenization has just exceeded approximately $25 billion, and US Treasuries tokenization alone grew by 500% in less than two years. These macro tailwinds are translating directly into client demand — and into Apex Digital's internal workload. Explore the full conversation on Listenly's The Single Source page.
Walker is explicit about the source of this growth: it is not coming from one corner of the market. Traditional asset managers and digital asset clients are both accelerating their tokenization programmes at the same time. That dual-track demand is what makes the pipeline growth particularly significant — it is structural, not a spike from a single trend.
Apex Digital's market position reinforces why this volume is plausible. The firm represents approximately 16% of all global crypto fund administration and carries 13 years of experience in the sector. The Apex Invest platform currently hosts over 100 funds and approximately $40 trillion of allocated capital — the infrastructure to handle 557 concurrent projects at various stages is already in place.
"Distribution is king. Everything we do is actually all about distribution — whether that's distribution onto a chain or multiple chains, distribution to a centralized digital venue, a decentralized digital venue, or to an aggregator."
Tom Bennett — Global Head of Fintech, Apex Digital.
Bennett participated in this episode alongside Angie Walker, Global Head of Commercialization for Apex Digital. The two were interviewed by host Brian in connection with a tokenization survey report produced in partnership with Mergermarket. Walker, who joined Apex one year prior to the recording, was responsible for overseeing the commercialization function during the period in which the project pipeline grew from 31 to 557. Bennett's remarks on distribution reflect Apex Digital's broader strategic framing: tokenization is ultimately a distribution problem, not just a technology one.
Angie Walker describes LSEG — owner of Refinitiv — as a "super strategic" partner, noting that LSEG has approximately 400,000 institutional investors on its platform, giving Apex Digital a powerful distribution channel for tokenized funds.
Angie Walker highlights that Apex Digital was part of the team that launched PhilQ, described as the first-ever triple-A rated liquidity fund rated by a major ratings agency — a landmark moment in the tokenization of institutional-grade financial products.
Angie Walker states that Apex has been doing crypto fund administration for 13 years and represents approximately 16% of all crypto fund administration globally, serving clients across the full spectrum of the digital asset ecosystem.
This answer comes directly from The Single Source podcast. Hear the full episode on Listenly.
Listen to the episode on Listenly