About Martha
Martha co-founded Polibit with Gabriela Mena, leading the engineering organization that builds Polibit's investor portal, fund administration, and tokenization infrastructure.
A full-stack engineer and Web3 specialist, she holds a Master's in Software Engineering and previously co-founded a startup with a successful exit and led engineering teams at scale.
Polibit's engineering team received a Polygon Grant in 2025 and was a Shark Tank Guatemala winner the same year.
Areas of expertise
Articles by Martha
9 articles
Securing Tokenized Fund Infrastructure: Smart-Contract Auditing, Programmable Transfer Restrictions, and Platform Security Diligence
Tokenized fund infrastructure introduces security attack surfaces that traditional fund administration never faced: smart contract vulnerabilities, private key compromise, and on-chain governance exploits. Fund managers diligencing a tokenization platform must evaluate smart-contract auditing depth, formal verification practices, programmable transfer restriction architecture, and platform-layer controls—SOC 2, encryption standards, access control, and key custody risk—before committing LP capital to an on-chain structure.
Blockchain Settlement and the Off-Chain Data Problem: How Tokenized Funds Handle Settlement Finality, DvP Mechanics, and NAV Oracles
Atomic delivery-versus-payment settlement and near-instant finality are among tokenization's most cited advantages over T+2 traditional settlement. But settlement on-chain depends on data that originates off-chain—NAV calculations, income accruals, asset valuations—and the reliability of that data pipeline determines whether on-chain settlement creates confidence or compounds risk. This post covers settlement mechanics, DvP architecture, the oracle problem, and stablecoin distribution rails.
Digital-Asset Custody for Tokenized Fund Interests: Qualified Custodians, MPC Wallets, and the On-Chain Transfer-Agent Function
When a fund tokenizes its LP interests, two distinct custody questions emerge: who holds the underlying asset, and who holds the cryptographic keys that represent beneficial ownership on-chain. Fund managers evaluating tokenized infrastructure must understand qualified custodian obligations under the SEC's custody rule, the trade-offs between MPC and multisig wallet architectures, and how the on-chain transfer-agent and cap-table function works in a tokenized structure.
Digital Securities vs. Traditional Securities: A Comparative Analysis for Fund Managers
Digital securities (tokenized securities) and traditional securities represent two infrastructure layers for the same underlying assets. Understanding the operational differences—settlement speed, custody requirements, transfer mechanics, compliance enforcement—determines whether tokenization creates value or complexity for your fund structure.
The Tokenization Process: A Step-by-Step Guide from Legal Structuring to Digital Distribution
Tokenizing a real-world asset involves four distinct phases: legal structuring (SPV formation, security classification), smart contract deployment (token standards, compliance rules), distribution (investor onboarding, KYC/AML), and ongoing administration (distributions, reporting, secondary trading). Understanding each phase prevents the costly mistakes that derail tokenization projects.
ERC-3643: The Institutional Standard for Compliant Security Tokens That Every Fund Manager Should Know
ERC-3643 (T-REX protocol) is the Ethereum token standard specifically designed for regulated security tokens, enabling on-chain transfer restrictions, investor whitelisting, and compliance rule enforcement. BlackRock, Société Générale, and BNP Paribas use ERC-3643 for institutional tokenization. Fund managers choosing token infrastructure need to understand why this standard dominates institutional adoption.
Tokenization vs. Cryptocurrencies: Why the Distinction Matters for Fund Managers and Their LPs
Tokenized real-world assets and cryptocurrencies use the same blockchain infrastructure but represent fundamentally different investment instruments. RWA tokens are backed by legal claims on real assets—real estate, fund interests, receivables—while cryptocurrencies derive value from network effects and speculation. Understanding this distinction is essential for communicating tokenization to skeptical LPs and regulators.
Tokenization 101: How Digital Securities Work on Blockchain—A Fund Manager's Technical Primer
Tokenization converts ownership rights in real-world assets into programmable digital tokens on a blockchain. Understanding the technical mechanics—token standards, smart contracts, custody models, and settlement finality—is essential for fund managers evaluating whether tokenization creates operational value or just adds technological complexity.
Smart Contracts for Fund Managers: Automating Distributions, Compliance, and Reporting
Smart contracts eliminate the manual processes that consume 60-70% of fund administration budgets: waterfall calculations, distribution processing, compliance verification, and investor reporting. A properly structured smart contract system can reduce distribution processing time from 5 days to under 1 hour while eliminating calculation errors that cost funds $100,000+ in remediation.
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