Are Tokenized Stocks the Next Big Catalyst? | Brett Redfearn
episode
Talking Tokens: Crypto, Onchain Finance, Investing
48 min
1 speaker
8 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
I spent a bunch of my career when in the early days of electronic trading. And I used to say that, you know, we will have succeeded when people just take the word electronic out. In this space, it's the same thing. Like at the end of the day, investors don't care. Like, what is the underlying technology that I'm using to do this? Gonna be use cases and applications that never existed before, that are good for investors. that are good for markets. You know, we're gonna just see, you know, a whole new set of use cases that are unlocked that are gonna be powered by and built on blockchain, but nobody's gonna care.
Today's talking tokenization guest is Brett Redfern, the president of Securitize and friend of the show.
What is tokenization and how does it change the representation of traditional assets?
Brett, welcome on.
Hi, it's great to see you, Jacqueline.
It's great to see you too. Uh we always like to start off this series by asking people how would you define tokenization?
Well, I love this topic and uh happy to talk about it. So tokenization is just a way of representing traditional financial assets like stocks, bonds, real estate, blockchain, um, you know, in a different way. This is a meaningful upgrade to financial market infrastructure. It's a different ledger, it's a better ledger. And it's something that enables us to modernize capital markets with faster settlement, improved transparency. programmability, broader global access. Um so it's it's a pretty awesome upgrade that's really gonna unlock a lot of benefits for issuers, investors, and market infrastructure.
Yeah, I mean Brett, you've spent years inside of the traditional financial markets, the regulatory side of things prior to working at Securities, advising at Securities. You served as a director of the Securities Exchange Commission division for trading and markets. And then you also had a variety of capital market leadership roles at like JP Morgan, most recently Coinbase too. And now you are the president at Securitiz. How would you kind of describe the evolution of capital markets with your past experience in mind? Because you have a very unique vantage point that, you know, a lot of people don't necessarily get to have.
Um, yeah, I mean, it really has been an awesome set of experiences over the years because, you know, being focused on market structure, I I define market structure as sort of this intersection between technology, regulation, and trading practices, right? And so in any asset class, you will have a a way in which people are doing things and a new technology comes to bear, and all of a sudden trading practices change. change, regulators try to catch up, regulation comes in. And you know, it's like a wheel that goes around and around between technology trading and and uh and regulation.
How has the capital‑markets structure evolved from floor‑trading to on‑chain systems?
So, you know, I early in my career I was actually on the American stock exchange working there, managing the transactions business when it was still a floor-based market, right? So it was completely manual. It was the guys in the colored shirts running around, you know, um, you know, trading in a very old school way. They literally had mnemonic tubes like on the side of the thing from The days when they would shoot messages up to people in the balcony. Yeah. And I was there when the markets went from floor based to completely electronic markets, right? So all of a sudden the electronic communications networks came in and you saw electronic trading completely transformed. The New York Stock Exchange floor went from a bunch of traders to a totally electronic
Situation where people actually didn't even necessarily always have to be on the floor. So that process has happened in multiple different asset classes. You saw it happen in equities, you see it happen in fixed income, you see it happening in the FX markets. So all the different markets continue to evolve as technology changes. And for me, it's just such an interesting set of dynamics. So when blockchain technology kind of came to the fore and we started seeing what was capable. capable with blockchain, with the composability, with the programmability.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:01–0:45
2
What is tokenization and how does it change the representation of traditional assets?
0:45–2:45
3
How has the capital‑markets structure evolved from floor‑trading to on‑chain systems?
2:45–6:06
4
What is the current regulatory landscape and how might the SEC’s innovation exemption affect tokenized securities?
6:06–10:42
5
Why are institutional investors now actively adopting tokenized assets?
10:42–13:38
6
What motivated Brett Redfearn to move from advisory roles to become President of Securitize?
13:38–16:30
7
What growth opportunities does Securitize see in tokenizing stocks, treasuries, and private credit?
16:30–20:37
8
What practical advice should traditional finance firms follow when entering the digital‑asset space?
20:37–48:20
Speakers
1 identifiedMore from Talking Tokens: Crypto, Onchain Finance, Investing
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