"Tokenization faster than digital media innovation…will force traditional financial institutions to adapt"

Real-world asset tokenization is expected to change the financial industry faster than the pace of digital media innovation and will force traditional financial institutions to adapt.

On the 22nd (local time), according to Cointelegraph, Keith Grossman, CEO of MoonPay, said in recent remarks, "There were concerns that digitization would destroy media, but in reality it forced evolution. The tokenization of real-world assets is likewise a change that requires traditional financial institutions to adapt."

He emphasized that tokenization is no longer confined to the hypothetical stage. He cited that BlackRock has launched a tokenized fund, and Franklin Templeton is operating a tokenized money market fund on a public blockchain. He added that major global banks are testing on-chain payments, tokenized deposits, and real-time asset transfers.

Grossman predicted, "Large incumbents such as Citigroup, Bank of America, and JPMorgan Chase will not disappear, but they will exist in a completely different form, like media companies after digital transformation." He explained that business models maintained for decades will no longer work as they have.

He said, "The companies that survive the transition to tokenized finance will not be those trying to stop change, but those that move ahead of it," and emphasized, "The shift to a global financial system operating on blockchain infrastructure is an unavoidable trend."