Eight phases, in the order that decides whether it closes.
This is the method we use, written out. Not a sales sequence: the actual order of decisions, who has to sign each one, and what you are holding when a phase closes. Most of it happens before anything touches a blockchain. The eight, in order: strategy, asset structuring, tokenization model, token economics, issuing framework, legal documentation, validation and deployment, and the offering.
The Stobox Tokenization Framework is a method of eight phases and 48 steps. It orders the decisions of a tokenization, names who signs each one, and says what you hold when a phase closes.
- ✓Written for the person doing the work
- ✓Counsel signs, not us
- ✓Nothing here is behind a form
Pick a phase and read its steps in full.
Nothing here is hidden behind a form. If you want to run this yourself, or run it with somebody else, the sequence is the same and it is on this page.
Read all eight phases and 48 steps as one page
Phase 01: Strategy
What you are tokenizing, why, who may buy it, and where the asset legally lives.
Who signs: You, with your own commercial judgement. What you hold at the end: A written answer to what, why, for whom and where, which every later phase is checked against.
- 01.1 Choose the shape: one asset, a series, or a portfolio
- 01.2 Write down what you actually want out of this
- 01.3 Name the asset class and the specific asset
- 01.4 Estimate what it is worth today
- 01.5 Identify the country the asset sits in
- 01.6 Decide which investors, in which markets, you are allowed to reach
Phase 02: Asset structuring and legal readiness
The proof that the asset is what you say it is, and that you own it.
Who signs: An independent valuer, and whoever holds the asset. What you hold at the end: Evidence a stranger can check without taking your word for any of it.
- 02.1 Set the value being tokenized and the amount you are raising
- 02.2 Choose the currency it is denominated in
- 02.3 Document the valuation, and have it validated
- 02.4 Upload legal proof of ownership
- 02.5 Disclose the insurance on the asset
- 02.6 Connect proof of reserves where the asset has any
Phase 03: The tokenization model
Whether it is a security, under whose rules you sell it, and what a holder actually gets.
Who signs: Securities counsel. This is not a phase to improvise. What you hold at the end: A pathway your lawyer has signed off, and a model that says what a holder owns.
- 03.1 Confirm the token is a security under the test that applies
- 03.2 Select the countries you will market and sell into
- 03.3 Choose the pathway: full registration, qualified investors, or a small-offers exemption
- 03.4 Plan how you reach investors abroad, lawfully
- 03.5 Choose the model that decides investor rights and how value flows
Phase 04: Token economics and the contract
The numbers and rights the contract will enforce, rather than the ones in the deck.
Who signs: You and us, against what counsel settled in phase three. What you hold at the end: A contract that enforces exactly what the offering promises, and nothing it does not.
- 04.1 Select the token type and subtype that fits the business
- 04.2 Define the yield model, and how it is classified
- 04.3 Specify the economic, capital, administrative and governance rights
- 04.4 Set supply, price, and the target
- 04.5 Choose whether tokens are minted up front or on investment
- 04.6 Record the on-chain parameters and deploy the contract
Phase 05: The issuing framework
Which legal entity issues, who approved it, and whether it needs a licence.
Who signs: Your board, and counsel in the issuing country. What you hold at the end: An entity that is entitled to issue, with the resolution that says so.
- 05.1 Decide whether your holding company issues, or a new vehicle does
- 05.2 Select the vehicle type and its country
- 05.3 Verify the issuing company against the registry and its corporate documents
- 05.4 Pass a board or shareholder resolution attaching the token to the entity
- 05.5 Assess and record any licensing your model requires
Phase 06: Legal documentation
The paperwork that ties the entity to the asset and the offering to the law.
Who signs: Counsel drafts and signs. We assemble from your record. What you hold at the end: A complete set of documents, each consistent with the others, because they came from one record.
- 06.1 Document the legal link between the vehicle and the underlying asset
- 06.2 Prepare the governance and authorisation records
- 06.3 Adopt the issuer policies: anti-money-laundering, privacy, terms, conflicts
- 06.4 Obtain a legal verification of the issuance and a legal opinion
- 06.5 Structure for tax at the asset, entity and investor levels
- 06.6 Assemble the offering documents that match your chosen pathway
Phase 07: Validation and deployment
The last check before anything is irreversible, and then the deployment itself.
Who signs: Us, in writing, and you, on the disclosure. What you hold at the end: A deployed token, a specification that describes it, and a report of what was deployed.
- 07.1 Define and disclose the ten risk categories
- 07.2 Sign the risk disclosure and liability statement
- 07.3 Submit the final legal, technical and asset documentation
- 07.4 Pass our multi-team final validation
- 07.5 Confirm the token issuance specification
- 07.6 Deploy the contract on chain
- 07.7 Receive the deployment report and go live
Phase 08: The offering
The commercial and legal terms of the sale itself.
Who signs: Counsel, and a licensed broker-dealer where the sale is brokered. What you hold at the end: An offering that can be sold to the investors you named in phase one.
- 08.1 Determine whether the offering is registered or exempt
- 08.2 Select the regulator, or the exemption you rely on
- 08.3 Assign an identifier through a national numbering agency
- 08.4 Choose the settlement currency and the network
- 08.5 Define size, price, caps and lock-up
- 08.6 Execute the purchase agreement
- 08.7 Obtain legal verification of the offering
Each phase has its own page.
The steps above in full, with the sources and the questions people ask at that phase.
Phase 1: Define Your Tokenization Strategy
Phase 02PagePhase 2: Asset Structuring and Legal Readiness
Phase 03PagePhase 3: Define the Tokenization Model
Phase 04PagePhase 4: Token Economics & Smart Contract Configuration
Phase 05PagePhase 5: Define an Issuing Framework
Phase 06PagePhase 6: Legal Documentation
Phase 07PagePhase 7: Validation and Token Deployment
Phase 08PagePhase 8: Define the Security Token Offering (STO) Framework
Four groups, and we are only one of them.
The most common misreading of a framework like this is that one company does all of it. Nobody should, and no honest provider would offer to.
Mostly you, with Intelligence
The record is built here: every figure with the document behind it. This is the half that decides how long the rest takes.
Mostly your counsel
Classification, pathway, entity and documents. We prepare and assemble; the decisions and the signatures are counsel’s.
Us, on the record
Validation and deployment run against the same record, so nothing is re-entered by hand.
Counsel, and a licensed firm
The terms are legal work. Where the sale is brokered, a licensed broker-dealer runs it and any commission is theirs.
The pattern across eight years is consistent: the companies that get through this quickly are the ones that were ready first. Twenty-five questions will tell you which phase you are actually at, in about eight minutes, without anyone calling you.
Three things it does not cover, said here rather than later.
Each of these belongs to somebody with a licence to lose, and that is the correct place for it.
We do not give legal advice
Classification, the pathway and the documents are counsel’s work. We are a technology provider and not a law firm.
We do not value your asset
The valuation that counts comes from a licensed valuer. Ours would be worth nothing to a buyer.
We do not sell your offering
Where a sale needs a licensed broker-dealer, they run it. We never take a share of what you raise.
Reading tells you the rules. A score tells you where you stand.
Score your asset
Twenty-five questions across seven dimensions, about eight minutes, no email to see the result.
Take the scoreBook a call
Bring the asset. We will say what is missing, and say so if the answer is no.
Book a callWhere the rules and standards are written.
Updated 3 October 2026