Country Highlight | Czech Republic
Ahead of Fintech Roadmap – the largest Czech-Slovak fintech conference, taking place on 14 May 2026 in Prague, we are sharing this interview with Ondřej Dusílek, CEO of Central Securities Depository Prague.
Originally published by Fintech Roadmap, this interview captures where Central and Eastern European capital market infrastructure stands today on DLT and tokenisation.
DLT and tokenization are often presented as a revolution in capital markets. What do they specifically mean for Central Securities Depository Prague?
For Central Securities Depository Prague, tokenization and DLT primarily represent a challenge and perhaps even the future of financial markets. That is why we developed, licensed, and launched a DLT registry — both to offer the market an alternative for securities book-entry and to be better prepared for the future, so we don’t end up like Kodak or Nokia.
Where do you see the greatest practical benefits of DLT today in securities registration and settlement — and where is it necessary to maintain realistic expectations?
The greatest benefit lies in leveraging decentralization in areas where no single entity is responsible for everything. This primarily involves interconnecting multiple systems, central securities depositories, or financial institutions. It is precisely the use of DLT in interoperability and the simplification of reconciliation that makes the most sense right now. Conversely, in the area of exchange trading — where trades are additionally netted through clearing institutions and only net positions are settled on T+2 or T+1 — the benefits will be smaller. Expectations must be tempered, especially regarding the timeline for transforming the entire financial market. The current interconnected infrastructure has been built up over decades, and switching everything to DLT will be a highly complex and expensive operation that will take many years, if it even happens at all.
Ondřej Dusílek
CEO, Central Securities Depository Prague
Driving the evolution of CEE financial infrastructure through DLT and private blockchain registries.
How prepared is the Czech capital market for asset tokenization? Are we still in the pilot phase, or approaching actual implementation?
It depends on what you mean by asset tokenization. If we are talking about the tokenization of securities on a private blockchain, that is already a reality here thanks to our DLT registry. If we are talking about financial instruments issued under Czech law on public blockchains such as Ethereum or Solana, we are still a long way off — primarily for legal rather than technical reasons. And if this refers to the settlement of shares on DLT that are traded on a regulated market, then that is more a question of readiness and acceptance among current capital market players.
If part of the market moves to a DLT infrastructure, how will the roles of central institutions such as depositories change?
If the market moves to a private DLT infrastructure for which central depositories will be primarily responsible, this will be a technological evolution rather than a fundamental change in their roles. If it goes through public blockchains, the change could be fundamental.
What do you consider the biggest technological or regulatory obstacle to tokenization in Czechia and the EU today?
For us, the biggest obstacle at the moment is regulation — not all types of investment instruments can currently be recorded in a DLT ledger. We see demand for instruments such as alternative investment funds or SICAVs. We believe this will soon be rectified. Overall, Europe and Czechia will then have to decide whether to further liberalize securities law and record-keeping in exchange for greater tokenization and a higher degree of responsibility on the part of issuers and holders.
What should participants take away from your workshop at Fintech Roadmap?
Participants should learn how they can use our DLT registry for their own companies in the areas of bonds or employee stocks, and what developments we are planning for the coming years. Fintech companies will also learn why they should become a DLT registry node and what services they can then offer their clients.
Fintech Roadmap takes place on 14 May 2026 as part of Prague Fintech Week. It is one of the most important gatherings for the fintech ecosystem in Central and Eastern Europe, bringing together practitioners, regulators, and innovators across two days of sessions and workshops. EDFA members are encouraged to attend – register at: https://www.fintechroadmap.cz/en