Odaily Planet Daily reports: Nasdaq CEO Adena Friedman said at TOKEN 2049 Singapore that tokenizing Treasury bonds, stocks, money market funds, and cash could improve collateral liquidity and free up billions of dollars in trapped capital across the global financial system. Institutional interest in tokenization has grown significantly over the past year, partly thanks to the U.S. (GENIUS Act) establishing a regulatory framework for stablecoins. She said institutional interest is converging with retail investors’ demand for round-the-clock trading. The retail ecosystem is about 10 years ahead, but moving toward fully 24/7 markets is a massive undertaking for the financial industry, requiring risk and collateral management to operate continuously in real time. She also noted that AI is essential for 24/7 trading. Nasdaq has launched digital agents on its risk management platform, initially to provide recommendations, with banks potentially using them to take more direct action in the future. Kraken co-CEO Arjun Sethi said companies outside the U.S. are also keenly interested in tokenization and accessing U.S. capital markets, including a company with about $25 million in revenue and larger international firms. Friedman cautioned that not all assets are liquid enough to support a 24/7 trading environment.