Tokenization in financial services: Is it the next big thing? With Citi's Ryan Rugg

Recorded live at Money2020 EU on 6/4/24! Join Ryan Rugg, Head of Digital Assets for Citi's Treasury and Trade Solutions, as we discuss tokenization and its likely impacts on the financial sector. Tokenization is the digital representation of an asset and can be used for various purposes, including tokenizing cash, real-world assets, and central bank digital currencies. There have been several barriers to widespread adoption, such as the lack of standards, governance, and regulation, but 2024 has seen significant progress. We cover the advantages of tokenization for corporate treasurers, including enhanced efficiency, security, and transparency; the importance of regulatory clarity and the role of legal frameworks in the adoption of tokenization technologies; the future potential of tokenization; and the need for financial institutions to prepare and partner with fintechs to take advantage of the latest innovations in this space.