Apex Group’s Tokeny and Polygon Labs launch T-REX Ledger, a compliance-focused blockchain designed to allow regulated tokenized assets to move between networks without repeating investor checks or transfer restrictions.
In a Thursday release shared with Cointelegraph, the project said it targets key friction points in the tokenized market. ERC-3643 is an Ethereum-based token standard for permissioned tokens that represent real-world assets that can support the compliant issuance of RWA, but identity checks, eligibility rules, and transfer restrictions often remain fragmented when the same asset is distributed across multiple blockchains.
The T-REX Ledger is pitched as a shared compliance layer that other chains can query while payments continue to occur on external networks. Built with Polygon’s Chain Development Kit and connected to Agglayer, the system is intended to serve as a common registry of investor eligibility and transfer rules across tokenized securities.
The launch comes as financial and crypto infrastructure groups race to build infrastructure for the tokenization market. Intercontinental Exchange, parent company of the New York Stock Exchange, has outlined plans for a new platform for tokenized stocks and exchange-traded funds (ETFs), and Deposit Trust Clearing Corporation (DTCC) has joined the ERC-3643 association in 2025 as financial institutions move further into tokenized collateral and securities infrastructure.
Fixing fragmented compliance
The release describes the network as a “shared source of truth” on investor eligibility and transfer rules.
The core problem that T-REX seeks to solve is that while ERC-3643 enables compliant issuance, it cannot maintain a shared state of compliance across the chain. For example, the same security measures applied to Ethereum and Polygon still perform separate eligibility checks, identity verification, and transfer restrictions.
Joachim Lebrun, co-founder of T-REX Network and chief blockchain officer at Tokeny, told Cointelegraph that the T-REX Ledger supports the issuance and lifecycle management of regulated digital securities, including bonds, funds, stocks, and structured products, with identity, eligibility, and transfer rules embedded directly into ERC-3643 tokens.
Apex Group will serve as the first on-chain transfer agent and adopt the T-REX Ledger as its default multi-chain orchestration layer, with an initial goal of $100 billion in tokenized assets by June 2027.
Related: New Ethereum standard aims to set baseline for real-world asset tokenization
T-REX Ledger centralizes compliance logic in a dedicated chain that other networks can query, but payments remain on an external chain.
“The market has grown into a multi-chain world for tokenization,” LeBlanc said, claiming that the T-REX Ledger has turned other blockchains into “distribution channels,” allowing regulated assets to be moved “with speed, compliance, and control wherever liquidity exists.”
Join the tokenization race
Related: SEC allows Nasdaq to test tokenized trading
T-REX markets itself as a neutral registry layer that can stand alongside players in the tokenization race. LeBlanc said securities issued via the T-REX ledger “could ultimately be settled in DTCC” because “compliance verification does not need to be on the same network as settlement.”
The chain itself will run as a sovereign Polygon CDK network managed by a dedicated steering committee, but ERC-3643 and its compliance framework will remain open source under the ERC-3643 Association rather than Polygon.
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