The Tokenization Stack
How capital flows through tokenization. From institutional allocators to productive yield.
Tag: #swiss-regulated
2 matching players
Issuance
1Who 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.
Infrastructure
1Who keeps tokenized assets safe and moving
Fireblocks is the default custodian. Hidden Road sold for $1.25B. The margins in tokenization are in plumbing, not products, and the plumbing layer is consolidating.
Juan Esquivel / October 2026·For educational purposes only.·OverviewCompareStandardsThreadsRegulationTalksAboutPrivacyContactSubmit a fix
Tokenization Map