Real-world asset tokenization is the crypto killer app — Polygon exec
According to Colin Butler, financial institutions that don’t embrace blockchain technology will lose their relevancy and competitive edge.
Colin Butler, Global Head of Institutional Capital at Polygon Labs, believes that real-world asset tokenization for institutional clients may be the killer application for cryptocurrencies because it dramatically reduces costs and settlement time — becoming increasingly difficult for traditional financial institutions to ignore.
“This technology is a massive disruptor for the entire global financial system,” Butler said — before outlining the capital efficiencies and business opportunities for all financial institutions embracing the shift to tokenized assets.
The Polygon executive explained that the cost-cutting benefits enable financial firms to consider new business models that were previously unfeasible due to highly competitive markets and slim margins.
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Author: Vince Quill
