59 TradFi firms just filed against the $OKX-ICE tokenized stock venue.

At the same time? Morgan Stanley is quietly moving forward with DTCC integration.

This isn't about tech. It's about control.

Who owns the rails = who owns the game.

OKX trying to build parallel infrastructure. Legacy finance wants to own the on-ramp.

Tokenization is inevitable. The question is: permissioned rails or open infrastructure?

Watch how this plays out. It'll define the next 10 years of RWA.