GSR CEO says tokenization has a buyer problem, not a tech problem
- —Song: tokenizing the roughly $300 trillion securities market is technically straightforward
- —Tokenized RWA estimates range from $39 billion to $60 billion, but much of it barely trades
- —2026 tokenized private credit estimates diverge widely, from $4 billion to $18.9 billion
- —GSR is putting over $100 million into Hare, focused on stablecoin and tokenized gold vaults
Why it matters: Tokenization risks staying a narrative without liquidity, leaving holders of illiquid RWA exposed to discounts and weak exits.
Source: Crypto Briefing