Astoval has launched TVAC, a formula-based tool that assesses whether tokenisation creates net added value before implementation.
The tool is positioned for use before legal structuring, platform selection or technical integration begins, with the aim of helping organisations avoid committing resources to tokenisation projects that do not offer a clear advantage over existing methods.
According to the announcement, TVAC is built around a fixed five-factor formula rather than a general recommendation for or against tokenisation. The added-value calculation is expressed as: New Opportunities plus Cost Savings plus Risk Reduction, minus Tokenisation Costs and New Risks. Each factor is scored individually before being combined into an overall verdict.
New Opportunities covers areas such as distribution, liquidity pathways, and new investor access. In addition, Cost Savings relates to operational efficiency and automation. Risk Reduction accounts for improved controls, transparency, and settlement or counterparty improvements. On the other side of the equation, Tokenisation Costs include build, integration, legal and compliance work, while New Risks cover regulatory friction, governance complexity, and custody or technology-related exposure.
According to Astoval, artificial intelligence is used within the assessment as an analytical component operating inside this predefined framework, rather than being asked to set its own criteria or produce an independent opinion on tokenisation's merits.
Assessment process and scope
The assessment follows four steps: describing the case, including asset type, jurisdictions, investor scope, custody model, and objectives; scoring the case against the five factors, producing a verdict together with a detailed report of more than 30 pages and around 9.000 words, and, optionally, comparing the result against alternative scenarios through an add-on called Scenario Lab. At the same time, Scenario Lab allows users to test up to two alternative assumption sets, such as different custody arrangements, settlement models, or jurisdictions, against the original assessment.
TVAC also evaluates the payment and settlement layer associated with a tokenisation case, distinguishing between projects where the cash leg is central to the value proposition, such as tokenised bonds or collateral workflows, and those where it plays a more limited role.
Target users and availability
TVAC is aimed at asset owners, financial institutions, asset managers, law firms, professional advisers, and tokenisation providers seeking a standardised basis for evaluating tokenisation proposals. Astoval has also indicated that institutional and partner access, including application programming interface integration and co-branded reporting, is available by arrangement rather than through self-service channels.
Individual assessments, subscription plans, and sample reports are now available through Astoval, which has stated that TVAC does not currently offer a public, self-service application programming interface or white-label dashboard.
