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Nasdaq CEO Adena Friedman Highlights Tokenization's Potential
Nasdaq CEO Adena Friedman emphasized the significant potential for tokenization at the TOKEN2049 conference in Singapore. She highlighted the growth in institutional interest over the past year, which contributed to the passage of the GENIUS Act in the U.S., establishing a regulatory framework for stablecoins. Friedman noted that the retail ecosystem has been 10 years ahead in terms of demand for 24/7 trading. She believes tokenization could allow banks and financial institutions to move collateral more efficiently, freeing up tens of billions of dollars in capital. The growth in tokenized stocks has been substantial, with a 473% increase in market cap to a $3.75 billion market cap this year. Companies outside the U.S. are showing interest in tokenization and access to American capital markets, which could help expand access to capital markets for companies around the world.