This book delivers a rigorous yet accessible analysis of how tokenization is reshaping financial markets by reducing transaction costs and unlocking illiquid assets. Grounded in economic theory and supported by real-world cases across developed and emerging economies, it examines the conditions under which tokenization can expand access to capital, improve market efficiency, and transform financial intermediation-while critically assessing its structural limits and risks.
This book delivers a rigorous yet accessible analysis of how tokenization is reshaping financial markets by reducing transaction costs and unlocking illiquid assets. Grounded in economic theory and supported by real-world cases across developed and emerging economies, it examines the conditions under which tokenization can expand access to capital, improve market efficiency, and transform financial intermediation-while critically assessing its structural limits and risks.