BlackRock is betting billions that tokenized funds will do for Wall Street what the internet did to mail
BlackRock CEO Larry Fink believes tokenization and digital wallets can modernize finance by expanding investment access, similar to the internet's impact on mail.Summary
In his annual letter, BlackRock Chairman and CEO Larry Fink advocated for tokenization and digital assets as a means to update the financial system's infrastructure, arguing the current model benefits existing asset owners disproportionately.
Fink proposed that tokenizing assets—recording ownership on digital ledgers—could make issuing, trading, and accessing investments like bonds and ETFs faster and cheaper. He compared tokenization's potential to the internet in 1996, suggesting it could gradually connect traditional finance with new systems, enabling everyday digital wallets to facilitate long-term investing.
He urged policymakers to quickly and safely build this bridge, emphasizing the need for buyer protections and counterparty-risk standards. This push aligns with BlackRock's existing digital asset leadership, including managing the largest tokenized fund (BUIDL) and significant stablecoin reserves, as Fink sees tokenization as a crucial upgrade to help more people become investors.
(Source：CoinDesk)