The International Monetary Fund has drawn attention to the growing influence of tokenization in shaping the future of financial markets, suggesting that this technological development could bring significant shifts in how assets are created, traded, and settled. IMF experts noted that tokenization is evolving beyond a simple technological advancement and now engages central questions about financial infrastructure and market structure. Tokenization refers to the process of turning assets, claims, or money into digital tokens represented on blockchains or other programmable ledgers. This approach could enable the issuance, transfer, trading, and settlement of assets on shared digital infrastructure, moving away from the current reliance on multiple, often fragmented, systems.