According to CNBC, Nasdaq CEO Adena Friedman said tokenization could free up tens of billions of dollars in capital tied up as collateral across the global financial system. She said tokenizing assets such as Treasurys, equities and money market funds, along with the flow of money, could make collateral more liquid, and said institutional interest has increased over the past year, helped in part by the U.S. Genius Act, which created a regulatory framework for stablecoins.

Friedman said a fully 24/7 market would be a major undertaking because financial institutions would need to keep risk and collateral management running continuously, and said artificial intelligence could help with that transition. Nasdaq has launched digital agents in its risk management platform that initially provide recommendations, and Friedman said banks could eventually use them to take more direct action. She also said not every asset is liquid enough to support a 24/7 environment.