Tokenization Moves From Pilot Programs to Institutional Markets
Money market funds and private credit are leading the migration of real assets onto shared ledgers, with custody and legal finality the remaining battlegrounds.
Money market funds and private credit are leading the migration of real assets onto shared ledgers, with custody and legal finality the remaining battlegrounds.
Instant collateral mobility delights treasurers in calm markets; risk officers are gaming out what it does in a stressed one.
On-chain money market products are absorbing idle balances across trading firms and protocols, knitting public debt into digital asset plumbing.
A small but growing group of companies is holding working balances in tokenized cash equivalents, trading yield and settlement speed against new operational risk.
Letting margin move in minutes instead of days is the rare blockchain application with unanimous institutional demand, and infrastructure providers are competing to supply it.
Double-counting and phantom credits pushed registries toward shared records; the technology is proving easier than the governance.
Structured secondary windows and tokenized feeder funds are answering the illiquidity complaint without inviting a run.