BlackRock CEO: Tokenization could make mobile investing as convenient as making payments
PANews reported on March 24th, citing The Block, that BlackRock CEO Larry Fink stated in his annual letter to shareholders that tokenization has the potential to make investing as simple as sending a payment, given that half the world's population has digital wallets on their phones. He pointed out that tokenization can make investments easier to issue, trade, and access by updating the underlying architecture of the financial system. This is the second consecutive year that Fink has emphasized the potential of tokenizing traditional investments; last year he focused on upgrading the financial system's infrastructure with blockchain technology, while this year he is more focused on accessibility and scalability. BlackRock is currently the largest issuer of spot Bitcoin ETFs and has become one of the most active traditional asset management companies in the digital asset space.
You May Also Like
US SEC approves options tied to Grayscale Digital Large Cap Fund and Cboe Bitcoin US ETF Index
Wormhole token soars following tokenomics overhaul, W reserve launch
Wormhole’s native token has had a tough time since launch, debuting at $1.66 before dropping significantly despite the general crypto market’s bull cycle. Wormhole, an interoperability protocol facilitating asset transfers between blockchains, announced updated tokenomics to its native Wormhole (W) token, including a token reserve and more yield for stakers. The changes could affect the protocol’s governance, as staked Wormhole tokens allocate voting power to delegates.According to a Wednesday announcement, three main changes are coming to the Wormhole token: a W reserve funded with protocol fees and revenue, a 4% base yield for staking with higher rewards for active ecosystem participants, and a change from bulk unlocks to biweekly unlocks.“The goal of Wormhole Contributors is to significantly expand the asset transfer and messaging volume that Wormhole facilitates over the next 1-2 years,” the protocol said. According to Wormhole, more tokens will be locked as adoption takes place and revenue filters back to the company.Read more
