Franklin Templeton CEO Jenny Johnson says virtually every major U.S. bank is now in talks with the firm about crypto and tokenized asset products. Johnson noted blockchain threatens a massive chunk of existing business models, which has slowed adoption.

Meanwhile, Blockstream CEO Adam Back pushed back on the idea that Wall Street's entry into crypto conflicts with its cypherpunk roots. He sees institutional involvement as a natural step in mainstream adoption.

The comments came during a sit-down discussion on the convergence of traditional finance and digital assets.