Broadridge's 2025 Tokenization Survey indicates a significant shift in the financial services sector, with custodians at the forefront of tokenization adoption. The survey reveals that 63% of custodians currently offer tokenized assets, and an additional 30% plan to do so within the next two years, driven by benefits such as enhanced security, efficiency, and transparency. In contrast, wealth management firms are lagging, with only 10% having adopted tokenization, primarily due to operational complexities and regulatory uncertainties. Despite these challenges, 73% of wealth managers recognize regulation as the primary barrier to adoption. Meanwhile, asset managers are increasingly embracing tokenization, with 41% planning to launch related services to engage with digital investors. Broadridge's Distributed Ledger Repo (DLR) solution, which processes $33.9 billion daily, underscores the transition of tokenization from theoretical discussions to practical implementation.