Institutional interest in stablecoins (crypto tokens designed to maintain stable value) is expanding, according to Bitwise CIO Matt Hougan. After speaking with about 40 global financial advisers, Hougan said stablecoins and tokenization (representing assets digitally on a blockchain) attracted more attention than Bitcoin as a speculative investment. The discussions emphasized real-world applications rather than price charts. Hougan said stablecoins are reshaping views of capital markets and payments, while also serving as the dollar-like transaction medium needed for tokenized assets.