Nasdaq CEO Adena Friedman (아데나 프리드먼) said tokenisation could unlock tens of billions of dollars of tied-up capital by making collateral more liquid. Speaking at the TOKEN2049 conference in Singapore, she said tokenising assets such as Treasuries, stocks and money market funds could help banks move collateral more efficiently. She said institutional demand has risen over the past year, and 24-hour trading would require major infrastructure changes and greater AI use in real-time risk management.

Moderna shares jumped nearly 7% ahead of its scheduled inclusion in the Nasdaq 100 before the market opens on Oct. 9, closing at $203.21. The stock neared its 52-week high after rising to $205.77 intraday. Tokenised shares also gained, though they trade separately from Nasdaq hours. Moderna began management changes, with COO Juan Andres returning to a newly created role and CTO and quality chief Jerh Collins retiring. Citi downgraded the stock to sell.