Tokenized assets with the following collateral layers: Connecting DeFi and TradFi

At this point, we understand that capital markets are transitioning from blockchain testing to production deployments.

At the Stable Gathering in New York City in September, hosted by Stable Summit in partnership with Microsoft and the Enterprise Ethereum Alliance, leaders from TradFi and DeFi came together to discuss how blockchain is reshaping capital markets through tokenization, collateral management, and real assets (RWAs).

The conversation moderated by Redwan Meslem featured Otto Nino (DTCC), Alexandra Prager (JP Morgan / Kinexys Labs), Colin Cunningham (Chainlink Labs) and Teddy Pornprinya (Plume Network). Each speaker shared how their organizations are translating blockchain concepts into measurable business results.

Institutional-grade tokenization
DTCC’s Otto Nino explained how the global clearing and settlement backbone is being modernized through programmable settlement.

The goal is clear. Moving from T+1 to T+0 by embedding risk control and margin management directly into the asset. These changes reduce operational friction, improve capital efficiency, and maintain the same regulatory discipline that markets rely on today.

As Otto mentioned, success depends on dual format options, allowing assets to be moved between traditional and tokenized formats without violating regulations.

From Pilot to Production
JP Morgan’s Alexandra Prager explained how tokenization leaves the proof-of-concept stage and moves into full production. Blockchain workflows must deliver the same benchmarks as traditional systems, including speed, security, and reliability, and must feel user-friendly.

“Everyone needs to do this at the same pace. You can have an organization that is very forward-thinking, but if half the market is still on legacy systems, you can’t achieve the transition.” She explained, emphasizing that true adoption depends on coordination among market participants.

Her implication is that institutional adoption depends as much on human design and collective progress as on technological achievement.

Infrastructure and Coordination
Colin Cunningham of Chainlink Labs pointed out that there is growing momentum in tokenized deposits, stablecoins and money market funds. This is the first real-world use case that has gained institutional traction.
He highlighted Ethereum’s Layer 2 as a natural bridge for institutional capital, combining liquidity, established standards, and compliance infrastructure.

“My metric has always been net new capital on-chain. What I’m more interested in is that when new assets are minted on-chain, there are net new actors coming on-chain that would have traditionally been off-chain.” He pointed out that sustainable success depends on new influx and real utility rather than temporary incentives.

Compliance and Deployment
Teddy Pornprinya of Plume Network demonstrated how compliance and distribution converge. Plume integrates AML and KYC mechanisms directly at the protocol level, creating a secure environment for existing participants.

“The idea that DeFi is the Wild West is completely false. We can build an ecosystem where existing players can still feel safe on an open blockchain with compliance built in from day one.” He said he challenges persistent misconceptions about DeFi’s risk profile.

Teddy’s comments suggest that adoption depends on access, not pure speculation. Through partnerships with custodians, exchanges, and platforms such as OKX Earn and Alibaba’s Web3 wallet, we are turning tokenized assets into investable products for a mainstream audience.

field of vision
Microsoft and EEA’s Yorke Rhodes concluded by noting that AI is accelerating the blockchain development cycle, driving innovation to arrive “five times faster” than before.

The session made the unmistakable point that Ethereum’s mature infrastructure, L2 scalability, compliance framework, and interoperability continue to support institutional-level tokenization.

The next layer of collateral in global finance is being built, piece by piece, on open rails.

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