Research firm Citrini has identified asset tokenization as the missing link that could finally justify crypto's vast financial infrastructure. The report argues that moving U.S. Treasuries, credit, equities, and funds onchain transforms these assets into software-like instruments capable of seamless interoperability, collateral usage, and integration across DeFi protocols without redundant custody or settlement layers.\n\nThe thesis highlights a maturing ecosystem where stablecoins provide onchain liquidity, while established platforms like Robinhood (HOOD) and Coinbase (COIN) offer retail distribution. Coupled with evolving regulatory clarity for tokenized securities in the U.S. and globally, Citrini suggests the sector is poised for mainstream adoption. However, the firm emphasizes that the critical challenge remains determining which participants will actually capture economic value from this shift, marking a departure from traditional RWA narratives toward concrete profitability models.