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Exploring Tokenization Potential in Traditional Finance Sector
The traditional finance sector is increasingly embracing tokenization, with BlackRock and Goldman Sachs showing strong interest. BlackRock's entry into tokenization is expected to influence other major Wall Street firms to follow suit, potentially leading to significant growth in the sector. Franklin Templeton was among the first to delve into tokenization, while Goldman Sachs plans to launch three tokenized funds targeting the US fund sector and European debt markets. McKinsey forecasts a $2 to $4 trillion market cap for real-world asset tokenization by 2030, excluding stablecoins. They predict the tokenization of various asset classes, such as mutual funds, loans, bonds, and alternative assets, to occur by 2030. This bullish trend in tokenization indicates a significant shift towards digital asset adoption within traditional finance.