Gate News, March 6 — BlackRock CEO Larry Fink issued a statement saying that the financial services sector has a large number of intermediaries, lengthy settlement cycles, and complicated processes. He stated that digitizing each asset and enabling seamless transfer from digital wallets containing cash or stablecoins into stocks or bonds would significantly reduce friction and transaction costs. Larry Fink pointed out that there are currently $4.1 trillion in funds in global digital wallets. If holders want to invest in bonds, stocks, or real estate transactions, they must transfer funds from digital wallets to traditional wallets, which involves various commissions and fees. He emphasized that the idea of tokenizing all assets—including real estate—is to drastically reduce these friction costs, making investing easier and simpler, and enabling a more freely flowing investment process.
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