Tokenization is having a moment. NYSE is building a platform for 24/7 tokenized securities trading. Onchain stocks and ETFs are launching on Ethereum and Solana via @OndoFinance and @BackedFi. Confidential execution and auditable settlement = foundation for incorruptible tokenized markets.

2/ Tokenization means faster settlement, fewer middlemen, and broader access. But public chains leak sizes, positions, and strategies. When every order is exposed, frontrunning and copytrading threaten traders and institutions.

3/ TradFi already has ways to protect execution. Dark pools and iceberg orders limit info leakage and reduce market impact. Tokenized markets need the same protection to unlock institutional liquidity.

4/ Tokenization puts markets onchain. Transparency makes outcomes verifiable. Confidentiality protects the trade and the participants. Together, we'll have markets institutions can trust and use at scale.