The future of real-world assets (RWAs) is on-chain, but not all approaches are equal. Many confuse tokenization with native issuanceโa critical misunderstanding for finance.
Digitization is just a paper certificate becoming a PDF. Tokenization adds programmability and fractional ownership, but the actual asset is still held by a traditional custodian (like a CSD). This creates a "synthetic" version that must be constantly reconciled with the off-chain original, inheriting old inefficiencies: slow settlement, high costs, and intermediary reliance.
๐๐๐ญ๐ข๐ฏ๐ ๐๐ฌ๐ฌ๐ฎ๐๐ง๐๐ is the paradigm shift. The asset is born and lives entirely on-chainโno custodian, no reconciliation. It enables true disintermediation: issuance, settlement, and clearance happen natively on the ledger. This means instant finality, lower costs, and built-in regulatory compliance.
๐๐ก๐ฒ ๐๐ก๐ข๐ฌ ๐๐๐ญ๐ญ๐๐ซ๐ฌ ๐๐จ๐ซ ๐๐ซ๐ฒ๐ฉ๐ญ๐จ
Most blockchains, including Ethereum L2s, aren't built for securities. They lack the sub-10-second finality and privacy features institutions require. True native issuance demands a purpose-built infrastructure that bridges crypto innovation with regulatory rigor, moving beyond just a "front-end" wrapper.
The future isn't just tokenizing old systemsโit's building new ones from the ground up.
