According to BlockBeats, SEC Commissioner Mark Uyeda acknowledged that asset tokenization, including the tokenization of securities, has potential benefits. Uyeda said on June 14 that using digital tokens on the blockchain to represent asset rights can provide "security, transparency and immutability."
He also said that tokenization eliminates the need for intermediaries, thereby simplifying transactions and reducing transaction costs. Uyeda called tokenization part of broader technological advances, noting that "new technologies and innovations may provide further efficiencies for our global markets and investors."
The Bank for International Settlements recently announced that tokenization and central bank digital currencies (CBDCs) are key areas of focus for regulators in 2024. Global consulting firm Roland Berger said in October 2023 that the tokenization market, valued at $300 billion, could reach $10 trillion by 2030.
