The crypto landscape is changing fast.

First, crypto assets meant cryptocurrencies, whose sole function was to be a means of payment. Next, came utility tokens, with smart contracts and use cases only limited by imagination. Now tokenized securities are entering the stage. These new crypto assets resemble programmable stocks, bonds and derivatives, with a tangible substance based on their links to underlying equities, assets, debt, or revenue streams.

Crypto currencies, utility tokens and crypto securities, have yet to achieve anything like their potential scale due to regulatory uncertainties, infrastructural limitations, and a shortage of exchanges with licences to trade them…

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