CoinTelegraph
Tokenization could change how banks compete for customers by making financial services more modular, says Ka Yan Chan of UBS, a banking giant with $2T in assets. “It forces the industry to be competitive. It forces services to become modular,” Chan said.
Why it matters
Tokenization represents assets or financial instruments digitally, potentially allowing services to be structured and combined in new ways. Chan’s remarks frame the opportunity as more than a technology change: modular services could make competition over how banks serve customers more important.
Market impact
For banks, the idea raises a strategic question: how to adapt products and services as tokenized finance develops. The comments point to a possible shift in competitive focus, but do not specify a timeline or particular products.
Frequently asked questions
-
How could tokenization change competition between banks?
Ka Yan Chan of UBS says tokenization could push banks toward more competitive, modular services.
-
What does modular banking mean in Chan’s comments?
Chan describes financial services becoming modular, with the way banks structure and deliver them becoming a competitive focus.
-
Does UBS name a specific tokenized product?
No. Chan’s comments address tokenization and competition broadly, without identifying a particular product.
-
What strategic issue does tokenization raise for banks?
The comments frame the issue as how banks adapt their services as tokenized finance develops.
-
What is the significance of UBS’s $2T figure in this story?
It describes UBS as a $2T banking giant and provides scale for the institution whose executive commented on tokenization.
TheBlock
CoinDesk
WuBlockchain
Crypto News