Wall Street Tokenization: Can Blockchain Replace Traditional Stock Trading Infrastructure?

Executives from Janus Henderson and Openassets discussed the potential for tokenized equities to overhaul Wall Street's trading infrastructure following a recent SEC order. The September 17 order allows blockchain-based platforms to trade tokenized US stocks without exchange registration, provided tokens mirror traditional share rights. While Gabor Gurbacs of Openassets expects tokenization to significantly reduce intermediaries, Nick Cherney of Janus Henderson emphasized that adoption will be driven by new utility rather than just cost efficiency. Both experts noted that the transition will likely be gradual, with current tokenized fund volumes remaining small compared to traditional ETFs.