Why Tokenized Equities Need Another BlackRock Moment and Who Could Trigger It | Suzy Singh, Securitize

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Talking Tokens: Crypto, Onchain Finance, Investing 29 min 2 speakers 8 chapters transcribed 1 month ago
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What exactly is tokenization and why does it matter for investors?

Suzy (Susie) Singh 0:00
BlackRock's done it, Apollo's done it. Yeah, nobody wants to be left behind. Everybody wants to have an entry into the market. So I think it's more of how do we also get into the space so we're not left behind. So I think that's where the conversations are really happening right now.
Jacquelyn Melinek 0:20
Today's talking tokenization guest is Susie Singh, the Deputy Chief Operating Officer at Securitize. While many people know Securitize for its work with BlackRock, Apollo, KKR, and other major institutions, and for going public recently, Susie sits at the center of the day-to-day execution, working directly with many of these firms. So She's super important and I'm excited to chat with her. Susie, welcome on.
Suzy (Susie) Singh 0:44
Thank you so much for having me.
Jacquelyn Melinek 0:47
Thanks for inviting the hero.

Why are more institutional firms suddenly talking about tokenization?

Jacquelyn Melinek 0:49
Yeah, I I know well, warranted. Um we start this series by asking how would you define tokenization? How do I define tokenization?
Suzy (Susie) Singh 0:57
I think I would describe tokenization as a ledger that's using blockchain technology, which brings in operational efficiencies, transparency. And all the things that you've heard from everybody else that securitize, right? I think for me, tokenization is giving that access to certain individuals or institutions. that wouldn't have access in today's current infrastructure and market.
Jacquelyn Melinek 1:21
Mm. What would you say has been the biggest shift on this front that you've noticed maybe over the past quarter or two since the beginning of the year?
Suzy (Susie) Singh 1:29
Since the beginning of the year, I think I've just seen every single firm talking about tokenization as you're going to more conferences, as you're looking at all the media set are being put out. It's you know, from BNY to Jacob Morgan to City, I think everybody's just talking more about tokenization. And that shift has really started happening more since like the end of last year and this year, which wasn't there previously. Like when I first started at securitize, I don't think

Which types of financial firms are driving the current demand for tokenized assets?

Suzy (Susie) Singh 1:54
many people were talking about tokenization. I think that just started coming more so now. And with Biddle being one of the biggest products out there, I think that also changed that mentality and that made that shift happen.
Jacquelyn Melinek 2:07
Mm. What are those conversations actually sound like today compared to when you first started? Do you find that a lot of times when you're speaking with new institutions and existing ones? Um, that they know what they want and the strategy they want to implement, or is it still kind of like, Hey, we're exploring and we're thinking about this?
Suzy (Susie) Singh 2:27
That's a great question. I think it's a bit of the latter, right? So a lot of the new issuers or asset managers that we talk to, everybody knows what tokenization is, what it brings into the marketplace and the environment. I think right now a lot of the firms are still in that exploratory phase to understand cost efficiencies is like primarily driver. distribution is another driver, right? Where it's more of

How long does it typically take from the first conversation to a live tokenized equity launch?

Suzy (Susie) Singh 2:53
Yes, I'll put it on chain. I have this product. It has great functionality features. It's what, you know, currently is thriving. But what does that unlock bring when we put it on chain and how do I save it? I think those are the biggest drivers and then getting their senior leadership to sign off on it. So you have every asset manager or every s you know, private equity firm, hedge funds, all of those that Actually, they know like they have a digital asset team that knows about tokenization, but then they have to convince their senior leadership, and that's where we're seeing. The shift is everybody talking about tokenization to some extent, yes. I think every firm is talking about it because that's the calls that we have on a daily basis.
Suzy (Susie) Singh 3:34
It's then making it stuck to something tangible and proving it to their board in the most efficient manner.
Jacquelyn Melinek 3:42
Yeah. And we say institution kind of as like a catch all phrase and you just brought up like hedge funds, private equity firms, asset management firms, and the list can go on. Um, where are you seeing like the most demand out of like the subcategories within the broader institutional lens? Like is it mostly asset management firms, traditional banks?

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