Episode 3: Tokenized stocks and ETFs

In this episode of Inside Digital Assets, host Lidia Kurt speaks with Ian de Bode, President of Ondo Finance, about the partnership with BX Digital and what it takes to bring public market assets (U.S. stocks, ETFs, and U.S. Treasuries) on-chain at scale, with credible price discovery and an investor-grade market structure.

They explore why tokenization is increasingly starting with highly liquid asset classes, how TradFi liquidity can be bridged into crypto-native environments, and what needs to happen before institutions adopt tokenized securities beyond early pilots.

What you’ll learn in this episode:

Why liquidity comes first - Tokenization isn’t only about “fractionalizing” illiquid assets. For on-chain markets to work, you need tight pricing, deep liquidity, and reliable subscriptions/ redemptions, which is why public equities and Treasuries are a logical starting point.

Tokenization as a technology upgrade - From physical certificates → electronic registries → tokenized rails: tokenization is framed as the next infrastructure layer for capital markets, especially where settlement, cross-border transfer, and interoperability still lag.

From trading efficiency to settlement efficiency - Traditional markets excel at price discovery during trading hours, but settlement remains comparatively slow and fragmented. Tokenization can improve this by changing the “rails” behind the market.

Key discussion highlights:

Who’s buying tokenized stocks today:

What could accelerate institutional adoption:

Guest: Ian de Bode, President of Ondo Finance

About the podcast: Inside Digital Assets is a podcast about the future of capital markets, tokenization, digital assets and the technologies that power them.

If you enjoyed this episode, subscribe to Inside Digital Assets and share it with colleagues interested in tokenization, market infrastructure, and the future of post-trade.

A joint project by BX Digital and Seturion.

Du fragst dich, wann Tokenisierung im Kapitalmarkt wirklich Mehrwert liefert und wann sie nur „Tech um der Tech willen“ ist? Diese Podcast-Episode bringt Klarheit.

In dieser Episode von Inside Digital Assets ordnen Host Lidia Kurt und Gast Roger Darin (Incore Bank) ein, was Tokenisierung im Kapitalmarkt braucht, um zu skalieren: echte Use Cases, funktionierende Einlieferung ins Bankensystem und einen regulierten Sekundärmarkt für Liquidität. Roger erklärt, warum Tokenisierung für Investoren erst dann relevant wird, wenn Token Funktionen ermöglichen, die in traditionellen Systemen nicht möglich sind, etwa via Smart Contracts und im DeFi-Kontext. Ausserdem sprechen die beiden über Learnings aus den ICOs 2017, über KYC/AML, sowie über Custody vs. Self-Custody und die Rolle von Banken in einer tokenisierten Zukunft.

Die 3 wichtigsten Takeaways:

Podcast: Inside Digital Assets

Unternehmen: [Incore Bank]](https://www.incore.ch/de/))

Wenn dir die Folge gefallen hat: Bewerte den Podcast und abonniere uns, so hilfst du, dass mehr Menschen Inside Digital Assets finden.

Inside Digital Assets kicks off with a special opening episode: Host Lidia Kurt (CEO of BX Digital and Seturion) speaks with Matthias Voelkel, CEO of Boerse Stuttgart Group, about why Europe’s capital markets are still fragmented and what could change with tokenization and next-generation post-trade infrastructure.

The discussion connects the macro picture (Capital Markets Union, Europe vs. the US) with the operational reality of market participants: slow settlement cycles, high post-trade cost, and complex cross-border processes. Matthias and Lidia then outline a target state where trading can remain off-chain and unchanged, while the settlement layer evolves toward a more open, pan-European model.

Key topics covered

Guest: Dr Matthias Voelkel, CEO Boerse Stuttgart Group

About the podcast

Inside Digital Assets is a podcast about the future of capital markets, tokenization, digital assets and the technologies that power them.

If you enjoyed this episode, subscribe to Inside Digital Assets and share it with colleagues interested in tokenization, market infrastructure, and the future of post-trade.

A joint project by BX Digital and Seturion.

Inside Digital Assets ist der Interview-Podcast über Tokenisierung, Digital Assets und die Technologien, die sie im Kapitalmarkt praktikabel machen. Im Fokus stehen reale Use Cases: von Emission und Strukturierung über Handel, Abwicklung und Verwahrung bis zu Governance, Compliance und Technologie-Architektur.

**Ab Donnerstag, 15.01.2026, live. **

Host Lidia Kurt (CEO BX Digital und CEO Seturion) spricht mit den Menschen, die diesen Wandel in der Praxis gestalten, über konkrete Projekte, neue Marktinfrastrukturen sowie die operative und regulatorische Umsetzung digitaler Assets entlang der Wertschöpfungskette.

Was dich erwartet (alle 2 Wochen):

• Institutionelle Perspektiven und reale Use Cases: Emission, Handel, Abwicklung, Verwahrung

Episoden erscheinen auf Deutsch oder Englisch.