数字抵押品：切实可行的现实

关键论点

• 代币化正从试点走向生产应用；机构现在问的是多快能部署数字抵押品，而非它是否可行。
• 数字抵押品降低了迫使企业超额抵押和预融资的运营不确定性，使资本可按经济逻辑而非仅按运营需要进行配置。
• 代币化美国国债可在不离开美联储的情况下跨亚洲和欧洲交易时段调动，释放单一资产池的全球用途。
• 代币化货币市场基金和上市前私人证券正在扩大抵押品资格范围，趋近于流动性、收益与可编程性兼具的所谓'理想'抵押品。

对应原文证据

1. These closures and cut-offs create significant friction for organizations with cross-border or 7-day trading activities – resulting in pre-funding and in other, expensive solutions that carry significant performance drag.
2. Since 2024, industry interest and activity around tokenized collateral has been growing at a rapid pace, with the key developments as follows: As compelling as the case for tokenizing collateral may be, industry participants face one common blockage in their adoption of blockchain – their legacy technology and processes. · 2024
3. Over 50% of the cost of any DLT project today is driven by the (human) costs of risk, compliance and product approvals.