Everything on Value Capture

Value in the tokenization ecosystem is accruing to front-end platforms that provide user access and integrated financial services, rather than to underlying settlement chains. Institutions prioritize seamless user experiences and regulatory compliance over specific blockchain technology.

Impact: Shifts investment focus toward exchanges and DeFi protocols that serve as the primary interface for institutional users, potentially reducing the importance of isolated layer-1 chains.

— from Tokenization Infrastructure and Institutional Crypto Adoption · The Milk Road Show· Nov 11, 2026