Why Wall Street Is Warming to ‘Tokenizing’ Assets: QuickTake

Cryptocurrencies were invented in the heat of the 2008-2009 financial crisis to provide an alternative to banks. Many banks and financial institutions on Wall Street that initially scoffed at the dreams of devotees known as “cypherpunks” some 15 years ago are now not only in the cryptocurrency business, they’re also beginning to adopt the underlying blockchain technology.

While this may strike crypto enthusiasts as undermining a fundamental reason for the technology, banks are looking at the bottom line and see money to be made. They are drawn to blockchain technology for its ability to “tokenize” traditional assets ...