Korbit Research Center: "Large Financial Institutions Hold Competitive Edge in the Tokenization Market"

An analysis has found that large financial institutions with existing customer bases and regulatory infrastructure hold a competitive advantage in the tokenization market.

Korbit Research Center, under Korea's first virtual asset exchange Korbit, announced on April 28 that it has released a report titled 'Blockchain Revenue Structures in Traditional Finance' containing these findings.

The report cites BlackRock and JP Morgan as examples, explaining that large financial institutions possess a competitive edge in the tokenization market. The existing customer base serves as a key variable for monetization. Additionally, it notes that the recent approval of amendments to the Nasdaq's trading rules for tokenized securities could change the structure of market liquidity.

The revenue model of traditional financial institutions is divided into tokenization revenue models and crypto revenue models. The tokenization revenue model generates profits from the process of tokenizing real-world assets on a blockchain basis, while the crypto revenue model derives profits from trading, custody, and settlement of virtual assets themselves. Revenue sources are similar to those in the traditional capital markets system, including issuance fees and transaction fees.

The report also emphasizes that the success or failure of the tokenization revenue model depends on how well it matches the core demands of investor segments. While institutional investors focus on operational efficiency, such as real-time settlement and streamlined collateral movement, high-net-worth individuals show greater interest in improved access to private markets through fractional ownership.

Donghyun Kang, Research Fellow at Korbit Research Center, stated, "We hope this report, which systematically organizes leading overseas cases, will serve as a practical reference for the domestic financial sector as it designs new business domains."

This content was produced with the assistance of AI translation services.