Chainlink SmartCon Insight: Fidelity International's APAC Head of Digital Distribution and Partnerships Says $40 Billion in On-Chain Assets Remain Idle

On October 31st, at the Chainlink 2024 Hong Kong SmartCon conference with the theme of “Integration of Blockchain and Traditional Finance”, a group of traditional financial institutions that are actively exploring the in-depth integration of digital assets and on-chain finance presented a lot of insights at the SmartCon event. Among them, Emma Pecenicic, Head of Digital Distribution and Partnerships, Asia Pacific, Fidelity International, speaking at the roundtable forum on “The Future of Asset Management”, said, “Our sales model is divided into 2 types, i.e. customer-led and distribution-led. Firstly, our cryptocurrency companies buy into tokenization funds through crypto exchanges or tokenization platforms; as there are still around $40 billion of assets on the chain that are not generating any revenue, that's why we buy into tokenization funds; in addition to the fact that stablecoins currently have a market cap of around $180 billion, and that there is a need for more of a regulatory framework around stablecoins and for stablecoin issuers to manage their asset reserves, so a tokenization fund can be a good way of selling stablecoins,” she said. As a result, tokenized funds can be part of their asset reserves, which is our first customer segment; the second segment belongs to scale customers who have built up over time, and as we have learned, for large banks as well as large e-commerce platforms, ultimately, the wallet is the investment account of the future, and all assets will be stored on the chain.” 
In addition, she said that the next generation of investors, such as Generation Z and Millennials, are currently one of the main customer segments, and the amount of money held by young people in the cryptocurrency industry should not be underestimated.