Well, @Figure is right about the core problem with tokenization today. Putting a token on top of an asset isn't really transformation. You haven't fundamentally changed how the asset moves, settles or reaches capital. A lot of tokenization today is still a new interface sitting on top of old financial rails. The real opportunity starts when more of the lifecycle moves onchain and assets can interact programmatically with the wider financial system. Where I would go one step further is the endgame. I don't think native onchain ownership is the final destination. Native access is. The bigger opportunity is when private credit becomes globally distributable, institutional assets become composable and financeable, capital can move across markets more freely, and investors can access opportunities historically restricted by geography, infrastructure or distribution. That's where tokenization becomes truly transformative. Access is the REAL opportunity.