Now Live: Phase 2 of the Capital Markets Risk Mitigation Framework (RMF)

Amid strong institutional interest in adopting public blockchain infrastructure, there is a need for a standardized risk lens to guide safe and responsible implementation .

The Capital Markets Risk Mitigation Framework (RMF) is an industry-led effort facilitated by GBBC and Oliver Wyman, alongside leading financial institutions and blockchain infrastructure, providing a foundational step towards non-financial risk assessment and proposed mitigation by enabling the secure adoption of public blockchain infrastructures by regulated financial institutions.

The three phases of RMF focus on: (1) public Layer-1 blockchain infrastructures (2) extending to Layer-2, digital payments and tokenized securities, and (3) extending to native crypto assets.

Now in Phase 2, the focus is on: (a) infrastructure (Layer 1/Layer 2) risks and (b) application (stablecoins, tokenized bank deposits/deposit token and digital assets securities) risks.

Today, we release the infrastructure risks part of the framework, with the application risks part to be released for public consultation later in Q2 of 2026.

The RMF is published thanks to the input from core participating institutions with the ongoing support from the observers. Recently, we also introduced the first cohort of Risk Assessment Partners (RAPs) who have designed solutions for practical implementation of RMF by regulated financial institutions.

GBBC appreciates the input rendered by Phase 2 participants:

Core Contributors: Ava Labs, Canton Foundation, Cardano Foundation, Chainlink Labs, The Depository Trust & Clearing Corporation, Digital Asset, Euroclear Group, GBBC, Hedera, Kinexys by J.P. Morgan, Oliver Wyman, and more

Risk Assessment Partners: Blockmosaic, Dfns, Droit, Kaiko, and Metrika

Observers: Asian Development Bank (ADB), Blockmosaic, BTG Pactual, Dfns, Diameter Pay, Digital Token Identifier Foundation (DTIF), Droit, Enterprise Ethereum Alliance (EEA), European Central Bank (ECB), Global Legal Entity Identifier Foundation (GLEIF), GK8 by Galaxy, IDB Lab, International Securities Services Association (ISSA), Kaiko, Metrika, MIT Digital Currency Initiative (DCI), Moody’s Ratings, State Street, Swift, Temasek, VerifyVASP, United Nations Joint Staff Pension Fund (UNJSPF), The World Bank, and Wyoming Stable Token Commission

🌐 Access Phase 2 of the RMF here.

🌐 View the fact card here.

🌐 Have questions? Read the FAQs here.

If you would like to contribute to RMF or wish to apply to be a RAP, please reach out to rmf@gbbc.io.