The Tokenization Stack
How capital flows through tokenization. From institutional allocators to productive yield.
4 matching players
Institutions
1Who deploys capital into tokenized assets
The biggest asset managers are already onchain. That part happened. The more interesting question is who's actually deploying capital vs. who launched a pilot, put out a press release, and went quiet.
Chains
1Where tokenized assets settle
Every major tokenized money market fund settled on Ethereum. Solana is growing fast. Twenty-two other chains are competing for what's left, and the ones without real liquidity or issuer commitments will have a hard time staying relevant.
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.