The structure of global markets is undergoing a generational change as value ownership shifts to tokenized ecosystems. Discover how financial institutions must master a new playbook to manage this transformation, transitioning from siloed services to an ecosystem-delivered model, and why the emergence of a "Sixth Line of Defense" is critical for managing novel go-to-market dynamics and risks.

The prevailing industry focus on tokenised deposits as a payments-layer competitor to stablecoins is a strategic "category error" that commoditises the banking balance sheet. Instead, commercial banks should pivot to a "Credit Tunnel" strategy—positioning tokenized deposits as the natural byproduct of credit origination—to capture premium interest income as the foundational, upstream liquidity provider for the digital asset economy.