Kinexys, Alpaca and Chainlink Labs said tokenized securities are moving past experimentation, though liquidity, utility and trust remain key constraints for broader capital-markets adoption.
Stablecoins and tokenized deposits were previously framed at WebX2026 as complementary forms of digital money, while a separate conference session highlighted how tokenized securities are moving beyond the experimental stage. Speakers from JPMorgan’s digital assets unit Kinexys, U.S. stock broker infrastructure provider Alpaca, and Chainlink Labs focused on persistent bottlenecks in capital-markets tokenization, identifying liquidity, utility and trust as the main constraints on wider adoption. Together, the discussions point to a broader market shift from debating digital asset formats in theory toward addressing the market structure and infrastructure needed for real-world use.