Tokenization is gaining momentum on Wall Street as leading institutions embrace onchain trading of real-world assets, including money market funds from BlackRock, Franklin Templeton, and Fidelity.

Quotes that support claims

Tokenization is rapidly gaining momentum on Wall Street, as leading financial institutions recognize the benefits of enabling real-world assets (RWAs) to be traded onchain. Among the most notable trends is the tokenization of money market funds, exemplified by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), Franklin Templeton’s OnChain US Government Money Fund, and Fidelity’s tokenized US dollar money market fund.

The firm is one of a slew of Wall Street players that are looking to tokenize real-world assets, following in the footsteps of Franklin Templeton and BlackRock Inc. Billionaire Michael Novogratz’s Galaxy Digital Inc. is talking with regulators about tokenizing its shares.