Perkins Coie partner Chris Perkins said tokenized primary issuance could serve as a catalyst for the direct listing process in traditional capital markets. Speaking on the evolving intersection of blockchain technology and securities offerings, Perkins noted that tokenization on the primary issuance side represents "a first step in really galvanizing the direct listing process." The comments come as opt-outs from OKX's tokenized ICE (Institutional Crypto Exchange) offering have reached 50, signaling growing institutional scrutiny of tokenized asset platforms. The development highlights both the momentum and friction surrounding tokenization efforts to bridge crypto-native infrastructure with regulated securities markets.