🚀 Wall Street’s Trillion-Dollar Tokenization Pitch to the SEC! 🚀
Wall Street titans-BlackRock, Fidelity, Apollo, Franklin Templeton, Invesco-joined the SEC’s landmark roundtable, urging regulators to modernize rules and unlock the full promise of tokenized assets.
🔹 Tokenization Benefits:
~Real-time settlement and instant collateral transfer, reducing market friction and risk.
~Programmable compliance, interest calculated by the second, and automated transfer agency via smart contracts.
~Greater liquidity and transparency, with blockchain as the official record of ownership.
🔹 Key Regulatory Requests:
~Recognize public blockchains as official ownership records, ending duplicative off-chain bookkeeping.
Allow stablecoin settlement for tokenized securities-just like cash in traditional finance.
~Enable self-custody for investors, supporting innovation and lower fees.
~Modernize transfer agent and broker-dealer rules to fit digital assets.
~Launch regulatory sandboxes and pilot programs to test and refine new models.
~Foster global coordination for cross-border tokenized assets.
Wall Street is ready to go all-in on blockchain, but says outdated regulations must evolve. The industry wants a decentralized, 24/7 financial system-faster, more transparent, and open to everyone.
https://www.ledgerinsights.com/tokenizations-trillion-dollar-promise-wall-street-leaders-make-their-case-to-the-sec/