Crypto companies are charging into securities markets at a speed that has left banks and asset managers struggling to keep up – and Washington’s new stance under President Donald Trump is a big reason why.

In July, Trump signed legislation giving both banks and non-banks the green light to issue stablecoins. Around the same time, SEC commissioners he appointed paused or dropped a string of lawsuits that had been hanging over major exchanges.

With the barriers down, platforms like Coinbase, Kraken and Ondo Finance wasted no time expanding. Ondo now offers trading in tokenised versions of more than 100 stocks and ETFs on Ethereum, while exchanges that once stuck to crypto are preparing to add equities to their platforms.

Franklin Templeton’s Roger Bayston describes these first movers as the “have-wallet” crowd — firms born in crypto that already control millions of users. He argues they are reshaping finance faster than traditional institutions ever embraced blockchain. Their influence even spilled into the election, he notes, helping to set the stage for the current wave of pro-crypto regulation.

By contrast, the giants of Wall Street have moved cautiously. Franklin Templeton’s Ethereum-based BENJI fund appeared back in 2021, and BlackRock launched a tokenised money-market fund only last year. Collectively, those experiments have helped push the tokenisation market above $28 billion, but the pace still pales against crypto-native companies racing ahead.

Bayston believes these two worlds will soon converge, creating round-the-clock markets where investors can build highly customised portfolios that blend tokens and traditional securities. Franklin Templeton, he says, wants to be positioned exactly at that crossroads.

The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

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Filed under: Bitcoin - @ September 5, 2025 7:16 pm