Tokenization has long been a buzzword for crypto enthusiasts, who have been arguing for years that blockchain-based assets will change the underlying infrastructure of financial markets.

The technology is seen as rapidly increasing in coming years, especially in the U.S., helped by the passage of three new bills. President Donald Trump’s administration has eased regulation of the broader cryptocurrency industry, paving the way for a boom in the valuation of companies in the sector and the rapid growth of crypto-related securities.

However, the growth of the market for tokenized assets has been far slower than expected in recent years, with many projects still in their infancy or not yet live.

The term “tokenization” is used in a variety of ways. But it generally refers to the process of turning financial assets—such as bank deposits, stocks, bonds, funds, and even real estate—into crypto assets.

This means creating a record on a digital ledger blockchain that represents the original asset. These blockchain-based assets, or “tokens,” can be held in crypto wallets and traded on the blockchain, just like cryptocurrencies.

Stablecoins can be seen as an example of tokenization. They are a type of cryptocurrency designed to maintain a constant........

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