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Morgan Stanley, with roughly $10 trillion in assets, has become one of the first major banks to tokenize U.S. stocks and bonds on the blockchain. The move places the Wall Street giant alongside a small group of incumbents testing on-chain versions of traditional securities. It matters because tokenization could widen access to U.S. equities and fixed income and speed up settlement, while giving blockchain networks a foothold in mainstream capital markets. The announcement did not disclose which chain or tokens are involved, leaving those details as the next thing to watch.

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