
Jakarta, Pintu News – The tokenization narrative has been getting more and more attention this week. Earlier, it was discussed that NASDAQ announced its primary focus on tokenized stocks, and since then, more and more crypto-related news has emerged.
This indicates that the traditional financial industry is undergoing significant technological change, and tokenization is seen as a key driver in the transition.
Chairman of the United States Securities and Exchange Commission (SEC), Paul Atkins, in a recent interview, admitted that the market is indeed moving in that direction.
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Atkins noted that the financial industry, including banks and brokerage firms, are beginning to adopt tokenization systems. He also added that this trend is likely to be adopted globally in the next few years.
Atkins’ statement highlights the stark difference between his leadership and that of his predecessor, Garry Gensler. Under Atkins’ leadership, the SEC showed a more open attitude towards the development of blockchain technology.
Wall Street is increasingly showing support for real-world asset tokenization (RWA). NASDAQ’s commitment was the first major signal, and now financial industry executives are open to this new direction.
BlackRock CEO Larry Fink is reportedly one of the main figures pushing for the transition towards tokenized stocks. In his statement, Fink compared the current market position regarding tokenization to Amazon in 1996 – when the company was still only selling books online.
In other words, BlackRock sees tokenization as the next big change in the way the internet is used, especially as a medium of value flow and an enhancement of the traditional financial system.
Fink’s statement also highlights how drastically attitudes have changed in recent years. In the past, Fink and his executives were known to be skeptical of Bitcoin. But now, BlackRock has become one of the largest institutional investors in the crypto market.
BlackRock’s strong push towards the tokenization agenda emphasizes the seriousness of the transformation underway. The question now is: how much impact will RWA tokenization have on global markets in the future?
While it’s increasingly clear that financial industry bigwigs support the tokenization agenda, it’s also important to look at how it will impact the financial markets as a whole.
First, the SEC’s involvement in the sector signals that regulation will become clearer and more stable. What’s more, the support of the current pro-crypto SEC regime is a breath of fresh air for the development of tokenization.
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The tokenization agenda carries exciting potential on many fronts. One of them is the fact that blockchain technology will be the new foundation for financial markets. To give you an idea, the value of the US stock market alone is close to $70 trillion – a huge amount that could flow more efficiently and securely through a blockchain-based system.
Companies that provide blockchain services are in a strategic position to capitalize on that value.
Coinbase is seen as one of the companies that is strongly positioned to seize opportunities from the growth of the tokenized stock segment.
Its CEO, Brian Armstrong, mentioned that BlackRock will be a major player in tokenization, and Coinbase is ready to support with various services such as digital asset custody and tokenized trading.
Meanwhile, Chainlink is also strategically positioned because oracle services will be a critical component of the on-chain data transfer process. Since tokenization requires accurate, real-time data from the real world, oracles like Chainlink’s will be a vital part of that infrastructure – and this could potentially have a positive impact on Chainlink’s token price.
Overall, tokenization is not just a technological trend, but a fundamental transformation in the way global financial markets operate – and blockchain companies are at the forefront of this change.
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