Morgan Stanley CFO just called #tokenization the next phase of their $9T wealth platform.
Core infrastructure — advisory, lending, cash management.
That's the signal most people miss.
When a bank this size stops saying "we're exploring" and starts saying "we're integrating" — the architecture of wealth management is already changing underneath.
The question isn't whether tokenization will reach institutional scale.
It's whether the infrastructure being built now can actually handle it.
Smart contracts that move $9T in client assets need more than an audit.
They need the same reliability standards as the systems they're replacing.
That bar hasn't been set yet.