According to reports, former SEC Chair Paul Atkins anticipates US financial markets moving on-chain within two years. Atkins' statement, made in December, highlights the potential of tokenized market infrastructure. The analysis breaks down "on-chain" into a four-layer stack, distinguishing between tokenized wrappers and full lifecycle automation. The layers include issuance and representation, record-of-entitlement and transfer, on-chain settlement, and full lifecycle on-chain solutions. The SEC's authorization of DTCC to issue "Tokenized Entitlements" via approved blockchains represents a move towards on-chain custody and transfer. The potential market size is significant, with substantial opportunities arising from even small percentages of large markets like the $67.7 trillion US public equities market.

According to reports, former SEC Chair Paul Atkins anticipates US financial markets moving on-chain within two years. Atkins' statement, made in December, highlights the potential of tokenized market infrastructure. The analysis breaks down "on-chain" into a four-layer stack, distinguishing between tokenized wrappers and full lifecycle automation. The layers include issuance and representation, record-of-entitlement and transfer, on-chain settlement, and full lifecycle on-chain solutions. The SEC's authorization of DTCC to issue "Tokenized Entitlements" via approved blockchains represents a move towards on-chain custody and transfer. The potential market size is significant, with substantial opportunities arising from even small percentages of large markets like the $67.7 trillion US public equities market.