Institutional Finance Acclerating Tokenization
summary
Claims that tokenizing stocks is the wrong first move, citing Tether as successful RWA after ~10 years and a flood of token products with nowhere to go. Concrete barriers are custody, legal distribution (retail often can’t buy tokenized equities), and lack of origination channels. Prediction: tokenization first rewires bank plumbing and settlement rails rather than replacing SWIFT, and the urgent build is the back-layer infrastructure for the next 1–2 years and custody and distribution bottleneck.
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