The missing piece: why settlement assets matter more than tokens

It is tempting to measure tokenization progress by the number of assets issued. But if the cash leg still settles through legacy rails, most of the efficiency gains stay on the table.

Tokenized deposits and regulated stablecoins let both legs move atomically. No reconciliation breaks, no overnight exposure, no manual matching.

That is why our alliance runs a dedicated settlement working group, the network effect only kicks in when both sides of the trade live on the same rails.