Funds have emerged as the main axis of advance for tokenisation. Tokenised money market funds, used first by on-chain cryptocurrency traders, have found a second audience in traditional collateral management. Their close cousin, Stablecoins, are also migrating from the cryptocurrency markets to facilitate instant settlement of fund transactions and round-the-clock trading of tokenised funds. The question is no longer whether tokenised funds offer value to asset managers and allocators, fund distributors and bank and brokerage intermediaries. It is whether they can scale. One school holds that the key to scale is greater interoperability between traditional and digital asset markets. While a preference for digital twins of established funds will always disappoint purists, it does allow asset managers to gather more assets by reaching new classes of investor. Widening distribution also argues for public rather than private blockchains. And no fund servicing business is doing more to enable its customers to issue, distribute and service tokenised funds and asset-backed Stablecoins than Apex Group. Dominic Hobson, Co-founder of Future of Finance, asked Peter Hughes, CEO and founder of Apex Group, why he has placed tokenisation at the forefront of his strategy.