During Consensus Hong Kong 2026, Ultan Miller, CEO of Hecto Finance, shared a vision for a blockchain-native bridge to private equity, aiming to create the world’s first tokenized pre-IPO company index. This index will provide mainstream investors access to high-value private firms like SpaceX and OpenAI, developed on the Canton Network for privacy and compliance. In contrast, Edwin Mata, CEO of Brickken, warned that tokenizing shares without issuer consent could jeopardize investor protection and market credibility. The burgeoning tokenization sector, projected to reach $30 trillion by 2030, faces challenges from inexperienced players. Recent backlash against Robinhood’s offering of tokenized equities highlighted risks for investors, as companies like OpenAI dissociated from unauthorized token sales. While Miller believes tokenization represents a transition to programmable securities, legal ambiguities persist regarding rights and governance. Clear regulation and market frameworks will be crucial as tokenization evolves from an experimental space into a legitimate asset class.
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