Tokenization could unlock billions

Nasdaq CEO Adena Friedman told CNBC at TOKEN2049 in Singapore that tokenizing assets like Treasurys, equities and money market funds could free tens of billions in capital tied up as collateral across global finance.

“If you tokenize all those instruments along with the flow of money, then the collateral becomes very fluid.”

Institutional interest is growing

Friedman said institutional interest in tokenization has grown over the past year, pointing to the passage of the Genius Act in the U.S., which established a regulatory framework for stablecoins.

“If we can tokenize money, then we can tokenize the flow of capital.”

Twenty-four seven trading needs real-time systems

Moving to round-the-clock markets would require financial institutions to manage risk and collateral continuously rather than during market closures. Friedman said everything would need to happen in real time all the time.

“Everything has to be real time all the time.”

AI critical for continuous trading

Nasdaq has launched digital agents within its risk management platform that provide recommendations. Friedman said artificial intelligence is critical for twenty-four seven trading and banks could eventually use those agents to take direct action.

“AI is critical for 24/7.”

Global companies seek U.S. capital access

Kraken co-CEO Arjun Sethi said companies outside the U.S.are exploring tokenization and seeking access to American capital markets.