BlackRock CEO says tokenization will modernize financial markets

BlackRock CEO Larry Fink stated in his annual shareholder letter that digital wallets and tokenization could modernize financial markets and broaden investor access. According to CoinDesk, he noted that recording asset ownership on digital ledgers and using regulated digital wallets could make issuing, trading, and accessing investments faster, cheaper, and more widely available, comparing the current state of tokenization to the internet in 1996. Fink explained that while tokenization will not replace traditional finance overnight, it can gradually connect existing and new systems.