Blockchain tokenization is allowing stocks, currencies, and assets to function like money in daily finance. Crypto platforms are enabling instant transfers and settlement that traditional finance cannot match. As tokenized assets grow, regulators and central banks may face new limits on monetary control. The concept of money is undergoing a fundamental shift.
Assets that once served purely as investments, from Tesla shares to tokenized commodities, are increasingly being treated as stores of value and mediums of exchange. Mark Greenberg, head of consumer trading at Kraken, said in an interview with CNBC that the definition of money has expanded far beyond traditional fiat currencies. Greenberg said the traditional definition of money has expanded beyond fiat and local currencies, noting that advances in blockchain tokenization now make it possible for almost any asset to function as money. Investors can now hold value in Tesla shares, Bitcoin, or stablecoins pegged to major currencies.
Kraken’s momentum illustrates how quickly this shift is taking shape. Its tokenized xStocks product, which is not available in the United States, has already attracted more than 80,000 wallets. Since launching in the second quarter of this year, trading volume has reached roughly $14 billion, a notable figure for a new financial product. Kraken is not alone; Coinbase and Gemini have also expanded into tokenized assets, while actively promoting prediction markets as a way to bring new users into their ecosystems.
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