At Consensus 2026 in Miami, Wall Street executives emphasized that tokenization is reshaping, rather than replacing, traditional banking systems. Leaders from Citi, JPMorgan, and DTCC discussed how blockchain-based technologies are being integrated into existing financial infrastructures. Citi's Ryan Rugg noted that their tokenized deposit system has scaled from handling millions to billions, driven by client demand for 24/7 money movement. JPMorgan's Kara Kennedy reported over $1 trillion processed on their blockchain platform, Kinexys, focusing on enhancing existing systems for faster settlements. DTCC's Nadine Chakar highlighted the gradual integration of blockchain into their $150 trillion securities infrastructure, emphasizing evolution over replacement. The panelists agreed that while blockchain offers efficiency, core banking functions like risk management and compliance still require intermediaries. Animoca Brands' Evan Auyang pointed out the transformative potential of blockchain, though fully decentralized systems are not yet ready to replace existing structures. The convergence of traditional finance and decentralized systems is seen as inevitable due to efficiency and cost benefits.