

‘Beginning Of The End' For Banks: Here's What's Next | Sandy Kaul
Sep 30, 2025
Sandy Kaul, Executive Vice President at Franklin Templeton, dives into the world of digital transformation in finance. She discusses how asset tokenization is reshaping investments and the regulatory landscape, paving the way for more accessible crypto products. Sandy highlights the implications of blockchain technology for traditional markets and how crypto ETFs could become mainstream. She also shares insights on bringing crypto into retirement plans and the exciting partnership between Franklin Templeton and Binance, hinting at a future where tokenized assets revolutionize trading.
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ETF Rules Speed Product Launches
- Generic ETF listing standards dramatically shorten approval timelines from ~190 days to 30–60 days.
- This predictability will accelerate crypto ETF filings and broaden product availability.
Stablecoins Shift Value To Wallet Rails
- The Genius Act and stablecoin acceptance are shifting value out of banks into wallet-based rails.
- Sandy predicts this marks the beginning of transforming the traditional financial ecosystem onto blockchain rails.
Prepare For Tokenized Traditional Assets
- Expect tokenized equities and indexes to enable using traditional assets within crypto-native protocols.
- Consider how tokenization can democratize access and unlock new use-cases for retail investors.