The institutional dynamics of tokenization in Q3 2025

Tokenization is moving up a gear. Long confined to stablecoins, it is now spreading to private credit, money market funds and equity markets, laying the foundations for a new global financial infrastructure.

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Grégory Raymond

Gregory Raymond is a French journalist specializing in economics and cryptocurrencies, currently head of research at The Big Whale.

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Beatriz Ferreira

Beatriz Ferreira, based in Lisbon, specializes in the tokenization of real assets and works at Repsol. A graduate of ISEG, she has received several academic awards.

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