The Tokenization Stack
How capital flows through tokenization. From institutional allocators to productive yield.
8 matching players
Issuance
3Who creates tokenized assets
Securitize and Ondo run most of the issuance. Everyone else is fighting for distribution. When the product is a wrapper, distribution is the only thing that differentiates you.
Tokenized Products
3The assets the stack exists to serve
$31B+ across BUIDL, USYC, JTRSY, PAXG, and accelerating. These are the actual assets that connect the stack. Issuers on one end, yield protocols on the other, chains underneath.
Trading
2Where tokenized assets trade
Kraken, Coinbase, Robinhood all list tokenized stocks now. Distribution is still the bottleneck. Retail access might be what cracks it open. Nobody's solved it yet, but that's where the next winner comes from.