Tokenization — the on-chain representation of real-world assets or financial instruments — has long been cited as a foundational driver of institutional interest in blockchain and crypto. Moody’s underscores that, while the current activity remains modest, large banks and market intermediaries are actively building out capabilities to position themselves for a potential surge in demand. The report aligns with projections from analysts who see tokenization as a structural shift rather than a one-off trend.

Key takeaways

• Moody’s expects tokenization to proceed in a two-phase pattern: a gradual near-term ramp-up followed by a more rapid expansion as assets, markets, and participants come on chain.
• The market for tokenized real-world…