Citrini Research says tokenization could bring stocks, bonds, credit and other assets onto blockchains, giving crypto infrastructure a practical role in traditional finance. The firm made the case in a 79-page report, according to CoinDesk. But it is unclear where the gains will accrue: infrastructure and distribution providers, tokenization firms and DeFi platforms, or networks including Ethereum, BNB Chain and Solana. Some investors see lending, trading and collateral use as more valuable than token issuance itself. Citrini and BitMEX co-founder Arthur Hayes also point to AI agents as a potential driver of demand for programmable, always-on financial services. The market remains extremely early, and future leaders may differ from today’s.