EU Tokenization Push: France FinTech Demands Bigger DLT Pilot Regime

Alejandro Martínez · 2026-09-11

### France FinTech and Allies Push for a Bolder DLT Pilot Regime France FinTech has teamed up with a coalition of traditional finance players and tokenized asset firms to urge EU co-legislators to beef up the DLT Pilot Regime (DLTPR) under the Market Integration and Supervision Package (MISP). Their message is clear: Europe's current plan doesn't go far enough. ### The €6 Billion to €100 Billion Cap: Progress, But Not Enough The European Commission wants to raise the cap on financial instruments that can trade on DLT infrastructure from €6 billion to €100 billion (about $6.5 billion to $108 billion). That's a big jump, sure. But according to the coalition, it's still tiny compared to the size of global capital markets and the rapid pace of tokenization worldwide. Think of it like this: you're trying to fill a swimming pool with a garden hose. The new cap is a slightly bigger hose, but the pool is still enormous. To truly compete, Europe needs to remove the ceiling entirely—or at least set it high enough to let DLT markets grow. ### What the Coalition Is Asking For The group has three key recommendations for EU lawmakers: - **Remove the global cap altogether**, or set it at a level that actually supports the growth of DLT infrastructure. No more artificial limits. - **Create a flexible adjustment mechanism** so the European Commission can update thresholds as the market evolves. Regulations shouldn't be set in stone. - **Ensure fair rules across all infrastructures**—no special treatment that favors one model over another. A level playing field is essential. > "We need a European framework that can sustainably support tokenized financial markets and keep them competitive on a global scale," the coalition stated in a joint letter. ### Why This Matters for the U.S. and Global Markets If you're in the U.S. watching European payments and fintech news, this is worth your attention. Europe's approach to tokenization could set a precedent for how other regions handle digital asset infrastructure. A more ambitious DLTPR might attract global players to EU markets—or push them away if it remains too restrictive. The coalition's push reflects a broader trend: financial markets are going digital, and regulation needs to keep up. Whether you're a fintech professional, investor, or just someone following EU payment system news, the outcome of this debate will shape the future of tokenized finance. ### The Bottom Line France FinTech and its partners aren't just asking for tweaks—they want a regulatory framework that matches Europe's stated ambitions. The current proposal is a step forward, but without bolder changes, Europe risks falling behind in the tokenization race. The ball is now in the EU co-legislators' court.