Franklin Templeton Innovation Director Sandy Coul predicted that the future of asset management lies in “wallet-native” assets, with all financial assets stored in tokenized wallets. At the Ondo Summit, industry leaders from Fidelity, State Street, and WisdomTree unanimously agreed that tokenization has become a reality, infrastructure is in place, and application scenarios are continuously expanding. However, they emphasized that the biggest challenge lies in building practicality and trust, not just asset tokenization. The application of tokenization is still in its early stages, mainly focused on education and experimentation, with potential systemic benefits including providing instant collateral under market pressure. This shift is likened to the early development stage of ETFs, moving towards seamless, globalized, and personalized portfolio management.