Tokenization's Underdog Moment: Small Biz Finally Gets a Seat at the Table (Maybe)

The tokenization hype train keeps chugging along, but so far it's been a first-class ride for big crypto, banks, and Wall Street while the little guys are fighting over standby tickets. Last week, small enterprises got a rare spot in the policy conversation during the U.S. House Financial Services Committee tokenization hearing. Salman Banaei, General Counsel at Plume Network (the self-described "Compliance Layer" of Ethereum), made the case for tokenization that actually serves smaller players. He pushed for tokenizing asset-backed securities backed by Community Development Financial Institutions, Minority Business Institutions, Minority Depository Institutions, Low-Income Housing Tax Credit programs, and Opportunity Zones. The takeaway: tokenization could help underserved communities access capital, but only if regulators get their act together. Banaei also warned that foreign jurisdictions aren't waiting for the SEC to make up its mind—the global tokenization infrastructure is being built right now, and the U.S. risks getting left behind. Meanwhile, Anne-Sophie Cissey from Kaiko laid out the infrastructure gap at a recent International Law Institute panel. Her prescription: industry working groups, public-private partnerships, and shared standards for proof-of-reserves. The path forward is clear but bumpy. Senate legislation on market structure includes tokenization but