BlackRock's total assets under management reached a record $12.5 trillion in the first half.
Decoupling settlement from traditional payment rails can allow collateral to move in real time.
Digital asset market structure is being institutionalized.
Private credit and tokenization may be creating the infrastructure for future capital markets.
Fourth-generation marketplace technology platform can run 24/7 and on the cloud.
Blocks of credit have historically been resistant to electronic trading.
There is debate over Robinhood allowing users in the European Union to trade tokenized U.S. stocks.
Options are 65% of derivatives volumes in traditional finance, but less than 5% in crypto.
Hester Peirce and Caroline Pham spoke at an industry conference in London.
