According to Greenberg, tokenization removes the limitations of the traditional financial and securities market, which has remained unchanged for over half a century.
Thanks to tokenization, people can transfer any asset between platforms almost instantly, while banks or traditional brokers might require days or even weeks to do so, explained a Kraken executive.
Transactions with tokenized stocks are completed in seconds, and this does not require the extensive time investment typically associated with clearing procedures, the crypto exchange representative rejoiced.
A Kraken executive declared the arrival of the "era of tokenization." Greenberg added that tokenization allows people to store stocks, precious metals, or foreign currency on the blockchain, depending on their preferences and financial strategies. According to RWA.xyz, the current volume of tokenized assets is estimated at $415 billion. Boston Consulting Group forecasts that this volume could grow to $16 trillion by 2030. According to McKinsey, the tokenized asset market will not surpass $20 trillion by 2030.
Recently, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins spoke in favor of tokenization, calling blockchain technology an effective way to modernize traditional finance, stocks, and bonds.