Nasdaq CEO Adena Friedman (아데나 프리드먼) stressed that tokenisation could unlock tens of billions of dollars of tied-up capital. Crypto outlet U.Today reported this on Oct. 11.

Friedman said this in an interview with CNBC at the TOKEN2049 conference in Singapore. She said tokenising assets such as Treasuries, stocks and money market funds (MMFs) could make collateral locked up in the global financial system "highly liquid". That would allow banks and financial institutions to move collateral more efficiently.

Institutional investor interest has also grown. Friedman said institutional demand increased over the past year and partly contributed to passage of the GENIUS Act, the U.S. stablecoin regulatory framework. She said the retail investor market was "10 years ahead" and that demand for 24-hour trading has existed for a long time. She added that moving to 24-hour trading would require major changes to financial infrastructure, and she expected AI to play a larger role in real-time risk management.

Interest from companies outside the United States is also rising. Kraken co-CEO Arjun Sethi (아르준 세티) said non-U.S. companies are showing interest in accessing U.S. capital markets through tokenisation. He said tokenisation could broaden capital market access for companies worldwide.

Market indicators also support the trend. According to Token Relations, the market capitalisation of tokenised stocks rose 473 percent this year to $3.75 billion. By issuer, Ondo Finance had the most at $980 million, followed by xStocksFi at $954 million and Binance bStocks at $877 million. Securitize issued $341 million, and its own token, SECZ, accounted for $328 million, the largest single issue.

By network, BNB Chain had the most at $1.19 billion. Ethereum followed with $832 million and Solana with $734 million. Securitize unveiled "Securitize Stocks" on Solana on Oct. 8. They are tokens backed one-to-one by 12 U.S. stocks including Apple, Amazon and Tesla.