Nick Cherney from Janus Henderson Investors argues that tokenization of real-world assets (RWA) on blockchain is not a distant future concept but a current reality. He reflects on the revolution initiated by the launch of the first ETF in 1993, which was initially met with skepticism. Today, tokenization represents an even larger potential shift in finance. By digitizing financial instruments, such as bonds and stocks, investors can achieve greater portability and instantaneous transfers. Cherney highlights Janus Henderson's partnership with Centrifuge, which has successfully introduced a liquid Treasury fund on-chain, demonstrating the practical applicability of this technology. He acknowledges the skepticism that persists regarding regulation and system legacy, paralleling the early doubts about ETFs. With tokenization, the global financial system could undergo a transformational change, enhancing efficiency, reducing costs, and providing more inclusive access to financial products. The pressing concern is whether asset managers and regulators will act swiftly enough to leverage this opportunity before newer entrants create alternatives that cater better to investor needs. Embracing tokenization, Cherney asserts, is essential for the future of traditional finance.

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