Europe's tokenized asset market exploded from €7.4B to €38B in 2 years.

But here's the reality check: infrastructure is still broken.

Cross-platform interoperability? Barely exists.
Settlement rails? Still clunky.
Legal clarity? Lagging hard.

Tokenizing assets is the easy part. Building actual liquid markets around them is where the alpha lives.

Most people are chasing the narrative. Smart money is watching who solves the plumbing.