Tokenization is expected to transform the financial system at a pace even faster than the shift from print newspapers and physical media to digital platforms, according to Keith Grossman, president of crypto payments firm MoonPay.
Speaking about the rapid adoption of blockchain-based financial infrastructure, Grossman said the comparison with the digital media era is unavoidable. Digitization did not eliminate traditional media companies, but it forced them to adapt or lose relevance. He believes tokenization will apply the same pressure on banks, asset managers and market infrastructure providers.
“This is no longer hypothetical,” Grossman said, pointing to real-world examples of traditional finance embracing blockchain rails. BlackRock is already offering tokenized investment products, while Franklin Templeton runs tokenized money market funds on public blockchains. At the same time, global banks are testing onchain settlement, tokenized deposits and near-instant asset transfers.
Grossman argued that established financial institutions such as JPMorgan Chase, Citi and Bank of America are unlikely to disappear. Instead, they will evolve into new forms, similar to how media companies survived the internet era by changing distribution models and revenue structures. The institutions that succeed will be those that integrate tokenization early rather than trying to slow its adoption.
Why tokenization is accelerating financial change
Tokenization refers to representing real-world assets such as stocks, bonds, funds or commodities on a blockchain. This shift introduces structural advantages that traditional systems struggle to match. Markets can operate around the clock, settlement times can drop from days to minutes, and intermediaries can be reduced, cutting transaction costs.
Regulators have also begun acknowledging this transition. In September, the US Securities and Exchange Commission and the Commodity Futures Trading Commission issued a joint statement exploring regulatory pathways for 24/7 capital markets. Such a move would mark a fundamental change for financial markets that currently shut down on weekends, holidays and overnight hours.
Market infrastructure providers are moving in the same direction. In December, the Depository Trust and Clearing Corporation received approval from the SEC to begin offering tokenized financial instruments. The DTCC processed around $3.7 quadrillion in settlement volume in 2024, highlighting the scale of its influence. The organization plans to launch tokenized assets in the second half of 2026, starting with US Treasuries and stock indexes.
Grossman believes these developments signal an irreversible shift. Tokenization, in his view, is not about replacing finance but upgrading its core infrastructure. Companies that adapt will gain efficiency, global reach and faster capital movement. Those that resist may face the same fate as media businesses that ignored digital distribution in the early 2000s.
As blockchain adoption expands and regulatory clarity improves, tokenization is increasingly positioned as a foundational layer for the next generation of global finance rather than a niche innovation.
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