Episode 39: Institutional Tokenization In Private Markets

Institutional tokenization in private markets has exploded in scale, but the biggest promise driving institutional adoption remains largely theoretical. While billions of dollars of assets have been brought on-chain, most tokenized RWA tokens show thin secondary markets and low trading volumes. Moreover, the illiquidity that tokenization promises to eliminate may actually be a feature private market investors depend on. We discuss the private credit market, challenges of tokenizing specific industries in the financial services space as well as Liquidity Illusion.