Larry Fink, chief executive officer of the world’s largest asset management company BlackRock, believes tokenizing asset classes such as stocks and bonds could foster efficiency in capital markets. The CEO disclosed that fascinating developments are ongoing in the nascent industry beyond the hype and obsession with cryptocurrencies. Despite the of major crypto entities like FTX, digital payments are rapidly advancing. Fink believes that innovative applications for the asset management industry could emerge as the digital space. “For the asset Management industry, we believe the operational potential of some of the underlying technologies i’m looking at is huge,” he said.
Source: Mandy Williams, 2023-03-18; https://cryptopotato.com/tokenization-could-drive-efficiencies-in-capital-markets-blackrock-ceo/