Show Notes: One of the hottest buzzwords on Wall Street is “tokenization.” While the term has long been used in the context of cryptocurrency, exchanges and companies are moving quickly to create digital stocks. On this episode, host Mike Townsend is joined by Jim Ferraioli, director of digital currencies research and strategy at the Schwab Center for Financial Research, for a timely discussion on the implications of tokenization for investors, exchanges, and companies. They discuss how regulators and Congress are moving quickly to make digital stock trading a reality in the United States, the potential cost savings for companies of tokenization, and how investors are driving demand for digital stocks that offer all investors the ability to trade 24 hours a day, seven days a week, and settle almost instantly. Jim offers his thoughts on how and why this evolving development using blockchain technology could impact the markets. Mike also provides updates on the latest developments in Washington, including the arrival of Kevin Warsh as the new chair of the Federal Reserve, the debate on Capitol Hill over a federal gas tax holiday, and the progress of a bipartisan housing reform bill in Congress.
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