Coinbase: Open tokenization fit close di gap for access to capital

Coinbase Research dey argue say direct access to capital markets — no be income or basic banking — don turn main driver of wealth. Di report estimate say about 4 billion people dey excluded from owning productive assets or accessing big-scale financing under intermediary-based systems, creating persistent capital gap. For US over di past 40 years capital income rise ~136% while labor income rise ~57%, showing capital returns dey important for wealth accumulation. Coinbase dey push for open, permissionless tokenization (vs permissioned consortia or closed chains) to expand direct investing and fundraising without repeating traditional gatekeepers. Di report highlight real-world tokenization use cases — Franklin Templeton’s tokenized money-market fund on a public chain, JPMorgan’s Kinexys tokenized collateral network, and NYSE’s plan for 24/7 tokenized stocks/ETF trading with stablecoin settlement — and warn say permissioned or closed architectures fit recreate exclusion. Coinbase CEO Brian Armstrong go discuss market-structure legislation and tokenization for Davos. For traders, key implications includ accelerating institutional and retail issuance of on-chain assets, potential liquidity gains, faster settlement, and evolving regulatory and infrastructure debates we fit affect adoption and market access. Primary keywords: open tokenization, tokenization, Coinbase, wealth gap; secondary: capital markets, permissionless blockchain, brokered vs unbrokered, access to capital, CLARITY Act.