The Tokenization Stack
How capital flows through tokenization. From institutional allocators to productive yield.
5 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.
Tokenized Products
2The 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.
Stablecoins
2What everything settles in
USDT, USDC, PYUSD. The settlement layer. Increasingly backed by tokenized treasuries themselves, which means the base layer is starting to eat what it settles. That loop is worth watching.