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Securitize vs DTCC. Is there a “right way” to tokenize? Let’s unpack!
Recorded: Dec. 23, 2025 Duration: 0:39:19Space Recording
Short Summary
A heated debate unfolds in the crypto community as industry leaders discuss the contrasting tokenization approaches of Securitize and DTCC, emphasizing the need for broader access and democratization of investment opportunities. Key voices advocate for retail inclusion, highlighting the importance of creating a financial ecosystem that benefits all investors.
Full Transcription
. Thank you. Thank you. hello everyone zm zm i think uh oh okay we already have a crowd coming in let's wait
for a couple of minutes and then we can start. and guys anyone who wants to speak today just raise your hand and I will most likely give you speaking rhymes today.
Just don't be abusive.
Okay, so I have given speaking rights to a few people.
I can already see our brothers, special and both already here.
Okay. I'm making more speakers today
so this is the first time i'm posting spaces myself by the way i think i don't remember
okay nanpo is also here
and he's a speaker as well okay special I have
also given me right to him cool guys let's start okay so yeah I'm not sure
if all of you've been following but I'm sure a lot of you must have been that
there's a big like mudslugging and fight going on between basically Securitize and DTCC.
And what they've been talking about is apparently the right way of tokenization.
And we'll dig in deeper.
But first of all, you know, like it's very interesting that two of the largest players in the industry are basically, you know, publicly slamming each other,
having their internal moments just because one party thinks that the tokenization that they are doing
is the right way and the other person thinks the same about the way that they are doing.
Which is super interesting because the fact is that, well, all tokenization eventually,
So all tokenization eventually, if it is the right step towards bringing decentralization,
bringing the true democratization of wealth and the true involvement of the retail liquidity at the Fagan,
by providing them the liquidity, by providing them the opportunities that were not previously available,
that is the right tokenization.
And we can always go around in the nitty-gitties
doing this and doing that but the reality is that if it is something that is not benefiting the end users then well it is just an elite another way of elite capture and nothing else
and if it is something that is helping everyone then it is great and fantastic um let's start
with our friend nanko here nank, you have been in and out of this,
I think, for some time, and you have a very particular point of view on how the DeFi works.
Let's start with you. What do you think about all of this? Which side do you stand on or you
don't stand on a side either? ZMZM, thanks for having me. So I do have a stance here.
I think, you know, when you're talking about tokenization... Your voice is a bit low.
Can you speak louder or put the mic closer?
Is it better?
Is it better now?
Yes, better now.
Yeah.
So, like, you know, if you ask me a question that what actually scales tokenization to trillions,
I think my answer would be DTCC style of tokenization.
And the reason is simple, because DTCC already sits at the center of, you know,
all these global capital markets. They are already clearing and settling gazillions of dollars
annually. So this gives them the edge. So when we are looking at tokenization from a DTCC style,
it's basically modernizing the current structure and just bringing the same trust,
same legal certainty, the same custody standards are only modernized in a tokenized manner or in a digitized manner.
So I think, uh, you know, from a user perspective, when we are talking about
this, uh, it's more like the user won't even feel anything, but he will get
access to the same assets or the same securities in a much easier way than
how they get access to today, which is a win for this particular style.
That doesn't exactly mean that I'm trying to dis out on securitized, you know, new issuance of
assets on chain and all of that. But I do feel that that is a much longer process in adoption because, again, from a layman
perspective, from a user perspective, he would want to use the same application under the
same regulatory framework.
And the only difference is instead of his custody of whatever asset lying with an institution
in this scenario, he can just bring it into his wallet and settle it on chain.
So I think DTCC definitely has an advantage over this in the current financial framework
as we sit on. Uh, and mainly because you cannot expect institutions, large asset managers to, you
know, uh, change their behavior or look for new ways of, uh, distributing their
assets.
Yeah.
They'd rather use the current system in a simpler form, in a quicker form, in a
cheaper form.
And that's what DTCC actually is providing.
I mean, like Securitize is also doing it in a way like,
you know, the way they are tokenizing the assets,
you know, they are pretty much, you know,
giving the same way of access to the high networks
and the accredited investors and the funds and everyone.
But my fundamental argument in line with what you also said
is that, you know, is there a retail end to it?
You know, problem is that if you just tokenize it
and have it still available only to accredited people
and have it available to the large institutions,
then what's the point?
You know, you can just take out a couple of intermediaries
and have the same cost benefit.
But when you actually create a synthetic around it,
yes, you can argue that this is not the real asset
and there's another blank asset.
But even today, like when you are using exchanges
or brokers or even Robinhood or whatever,
you are actually getting an exposure just on a UI
and you are dependent on a third party.
There is a very large population of the world which has accepted that risk, you know, to
start with.
And for them, it is a choice between not doing at all or having a trusted third party, which
has years of experience.
And obviously, a lot of people take the second one.
Like a lot of things you do in CFDs and Forex and everywhere, you are dependent on the third party.
So like, you know, trying to, I think, getting an approach where you just try to become, you know, the holiest person around and, you know, taking a moral high ground.
I think that would not work.
And I think it is very important, again, to understand that the approach that DTCC is taking by, you know, helping in creation of the, you know, the ownership tokens, let's say, that is far more scalable.
You can create the whole DeFi ecosystem around it.
I'm not saying that what Securitize is doing is different, but my broader point of view is that there's a clientele effect and there's a market for each.
and there's a market for each but going out and saying yeah.
But going out and saying, yeah.
Liquidity already exists with DTCC right?
Yeah.
So with securitization the biggest issue will be creating that new liquidity layer
where the retail can then be you know invited to come and start trading over there.
Yeah but retail cannot even come there.
That's the problem because those are you know again A credit investors,
US only customers. you know, yeah.
Exactly.
Like the minimum, like on the securitization platform, the
minimum asset that you can get is for 10K, $10,000.
Now for a layman that's, you know, most of us, that's their
debt worth, so they are not going to go and invest all of their-
Don't talk about it.
Everyone knows you're a Solana, Oji.
Don't say 10K is your net worth.
No, no, but I'm just trying to make a point here.
But a very bad point you made here.
Come on, man.
It's beer market still does not mean that you say that your net worth is 10K, you know.
No, no, I'm just trying to you know favor dtcc over here
okay we have we have another gentleman here mustafa i'm gonna put you on the spot mustafa
what's what's your point of view what's your opinion zmzm ladies and gents uh my point of
view is honestly there isn't like one singular road to roam, right?
There are many roads.
I think like we're in the space as long as it's compliant and expands access, because
that's the issue that exists, right?
Like what we're trying to do is expand access of tokenization.
As long as it's doing that, the ecosystem wins all in all.
So there's no no they should coexist rather
than mudslinging uh but i agree with the fact that like with the mr nanko that uh it should be
accessible to the average person and not just the you know accredited investors uh or or the
tough people although like we mr nanko is a Solana OG, but yeah,
that's my thought process.
Like we should live in a world which is live and let live rather than throwing
shade at each other and just help this ecosystem grow.
Yeah, no, I think a fair point, but you gave a very political answer.
You know, I like Nento's, but you gave a very political answer.
You know, I like Nanko's answer much better.
What is this, man?
Yeah, I think Nanko, no, I mean, yeah, give me, throw me a question and then I'm happy to answer it.
Because Nanko already took me back. The question is simple, like pick a side, man, go on, pick a side, like what side are you on?
If I was to pick a side, gun to my head, I would go DTCC.
Okay, okay. So it's DTCC2, Securitas0 right now. Okay, cool.
I'll cast my vote in the end. And okay, we have Ahmed here as well.
But before him, we have Bulbhai. Bulbhai, thank you very much for joining us.
You know, you always take out time for us i'll not go into much detail but
just your would love to pick up your brains on like what do you think like these two big players
you know fighting their out in public like what do you think
okay what i understood from this conversation because you know what these days i like you
know i even question my own sanity that i should be focusing on all these kind of stuff
rather than that but again the thing is i mean given the situation i actually like the explanation
of nanko the way he explained it you know but at the same time you know this other thing which is
like the scrutinize securitized secure like if it's all about the like a-listed uh people and it's all about like you know 10k
minimum entry and stuff i mean this is not very retail friendly if you want to keep it that way
why you why you want to tokenize at the first place yeah you know if you just want to want to
do it for the sake of doing it then no need to do it you know let these retail come and try to
understand maybe we start having more developed brains
in this fucking industry. Because right now it's, it's pretty retarded right now the whole
situation. So I guess the more open things are for general public, let them go, I mean,
actually study all the stuff which is being tokenized rather than just trading shit coins
and meme coins and stuff, you know. So yeah yeah i kind of agree with nanko here amazing
because if you really want to like you know like i said if you just want to be limited to certain
people why you want to like come and tokenize stuff absolutely but there is also another argument
where you can actually talk about it that you know you can keep the jeets away you can actually keep
the smart people in who can actually understand that. So there's an argument to actually defend them too. But since we are talking about
decentralization, we're talking about like globalization, I think the first approach is
the better approach.
Yeah, I agree. I agree with you. We have we have a lot of people requesting for the speaking
today. And I'm gonna pick someone else. Well, I saw this here.
I saw you want to speak, speak your heart out.
What do you think?
You are one of the oldest person in this space that I know, um,
beside her salon.
So what do you think?
Yeah, Raffaeh, thank you for the opportunity to speak.
So, uh, the fundamental difference between DTCC and securitize is that, you know,
on one side you have the indirect, uh, tokenization and the, on the other side, it's like more
of more like a direct model where, you know, assets, uh, themselves, the tokenized assets themselves represent, you know, the proof of ownership.
While, you know, on the DTCC side, it's more about entitlement, the right of entitlement.
While, you know, fundamentally, the securitized model is better in terms of you know investor safety and all all those things but
i feel that the dtc model is much more scalable and an ecosystem can be built around it yeah that's
exactly the point i think that's the beauty of it and you mentioned the right word the ecosystem
development around it i think this is something which is pretty much,
you know, like day in, day out at ZeekChain,
we have been having a lot of discussions around tokenization.
As a blockchain, you don't do tokenization, right?
I mean, we are not in a business of running business.
We are in a business of supporting business.
And this is what we talk to our partners,
like more than 10 to 15 partners daily,
that how we can knit across, you know,
a lot of opportunities between the dApps.
Like, for example, something that people at Zamanath are doing,
how can it ultimately transpires into a freely traded
some opportunity on autoswap?
You know, creating that kind of an environment
is something which requires a lot of financial innovation
and not just a tag of tokenization on top, you know.
And, you know and and and you
know from our perspective yeah well once it's tokenized it's tokenized we are okay with both
of them and you know like people who are very rigid in terms of how the tokenization is done
they don't realize that the ultimate end user might not even need their permission by the way
to create an economic interest token um and and And the biggest example of this is what happened with OpenAI and Robinhood.
You know, Robinhood did not need permission of OpenAI to actually get an SPV,
tokenize it, and put it out there for millions of customers in Europe and the US,
you know, like where people can actually trade OpenAI.
Same goes, you know, you can trade Enthropic, OpenAI, SpaceX, XAI,
all pre-IPO companies on Solana already,
hopefully soon on ZitChain as well.
But that's the thing, you know,
like people who try and create the permissioned environment,
they need to realize that the world has moved really fast,
both in terms of technology and regulation.
And, you know, they would not be able to, you know,
contain it for too much.
So better to adopt or, you know,
like you might look shiny today, but you will not remain shiny for too long. So better to adopt or you might look shiny today,
but you will not remain shiny for too long.
Ahmed is here.
Sir, you have been speaking
tokenization day in, day out,
regulation day in, day out.
Would love to hear your thoughts on this.
Thank you, Rafi, for having me.
Well, I think it's not even a debate.
You mentioned Solana, and you mentioned these pre-IPO companies,
and I was listening Bull speak over here as well.
Shout out to him for joining us over here today.
Well, I haven't been doing any meme points lately.
I've been putting a lot of money in these pre-IPO companies and US stocks, and I'm 40% up in less than two months.
And the fact is that I don't have to do any KYC.
I don't have to go through all of these barriers that keep people out of these opportunities.
And I think that is like the power of true decentralization and really going permissionless.
power of true decentralization and, you know, really going permissionless.
I can understand where Securitize is coming from because, you know, they are, at the end
of the day, a very regulated company.
But really, I think if you are just democratizing access for your golf buddies, that really
isn't a democratization at all.
And which is why I've sort of leaned in with the dtcc debate i think that you
know what dtcc is trying to do or anyone in this space if they're trying to really include more
people into these investment opportunities they have my vote of confidence uh 24 7 and twice on
sunday and and yeah well twice on sunday is very important and thrice on happy new year you know
but but emma i have a follow-up question for you for you yeah like you've been talking to partners
day in day out at zikchain right and you know like we we talk a lot about ecosystem like for us
for the last one and a half two years since we started working on this and now we are near Flutation. How is it for us or for you and your conversations
where tokenization is not a singular or a linear discussion
and when you go into the creation of the whole ecosystem
and the lending borrowing markets around it
and collateralization and liquid RWA trading,
how are those conversations like
and which model really suits there?
Yeah, so I think,
well, I'm going to give you two answers to that.
One is that, you know,
when you speak with partners globally
who are interested in tokenization,
they are not just looking,
you know, because traditional financial rates already work for them.
So tokenization as a replacement of that process in its own way is not really interesting.
And essentially, you know, they're looking for this kind of wider access and democratization of the instruments or the products that they have.
So that, you know, they can also achieve a wider distribution
and reach more audiences.
You may recall us having this great conversation
with this gentleman who is from a very big fund manager
managing close to $100 billion.
And they really don't have anything to complain around
because they're managing $100 billion.
But what he was very interested in from a tokenization perspective
was to lower the barrier for people who can invest
in the investment opportunities that they're bringing on chain.
So I think democratization and financial inclusion really does matter.
The second argument to that is, or the second answer to your question is,
hey, I mean, anything where you're doing things in a permissionless way is just so goddamn sexier.
I was having this sync today with the Zamanit team, and the Disrupt team was also there, and I was explaining to them with the Zamanit team what we want to achieve with Zamanit.
to them with the Zamanath team what we want to achieve with Zamanath and ultimately
at some point in time someone stands up and says this is very boring marketing when do we get to
the fun part and the fun part is really on the ecosystem where you can really take the open
AIs of the world before they go live you can buy into them you can collateralize them you can create
they go live, you can buy into them, you can collateralize them, you can create, you know,
you can use them in DeFi and continue to build yield on these outsized opportunities. And I think,
you know, if you ask me, that is ultimately a world that we're all moving to. It's not to say
that the permissionless or decentralization means less compliance or no compliance at all. It just means that, hey, there are two ways of doing this,
but one way is just goddamn more sexier than the other one.
Yeah, absolutely.
And I think that is true.
And there is another interesting angle.
And, you know, I've been looking into it
is the branding of the way things are.
That, for example, if there is a company in Middle East
that aims to, you know, go public in three years from now,
for today, for them to have their private credit
getting tokenized with retail,
I think it is much amazing.
It's a great way for them to create their brand in the market.
You know, people getting used to having their exposure,
making money on it.
So by the time that they go public,
the same audience is going to be the first buyer
of their shares in the market.
You know, this is such an underrated concept
that people don't understand.
Like there's a reason that Uber and Tesla
and all of these companies,
they trade at such a high multiple
because the brand affiliation and brand,
you know, affection is already there.
Finance people, they have a hard time understanding it,
but then there are smart people in the fund management industry,
in places like BlackRock and Hamilton and all those people,
they understand this.
And this is why they don't see tokenization only as a financial way,
but a strong brand play for themselves as well,
in terms of, you know, financial innovation and brand creation.
But absolutely, I think the real magic lies where you are able to then attract the ecosystem
to then work with you.
Next, I have Aurora, would you like to say something?
I'm putting you on the spot, but your choice.
Yes, of course.
So, well, first of all, thanks for holding these spaces.
It is very refreshing to join a group
to discuss this kind of debate that is
going on on crypto Twitter, but now with real people and hearing your opinions and your takes,
it is really refreshing. So from my side, I've been reading about it and honestly enjoying this
big fight going on because I believe that good things come out of this kind of debates.
And under my point of view, I think what retail in this case cares the most about is access and liquidity.
And if the goal of tokenization is broad access and deep liquidity, not just the technical novelty and innovation,
is broad access and deep liquidity, not just the technical novelty and innovation,
then the DTCC model is the one that realistically works at the market scale.
So I am sad to have to agree with everyone else,
not bringing in a different perspective here,
but I have that strong opinion that the model that grants broader access
and liquidity is the one that will
succeed at the end of the day.
Absolutely.
I think that is what's fundamentally important, I think, to understand.
It is very interesting to see that everyone here in this space, from the ZikChain team
and from the outside, we are all of almost the same opinion that anything which is tokenized in a way where, you know, the ultimate retail is getting the access is where the magic is.
And just by limiting it to the same people as Amit called it, their golf buddies, I think that does not put anything.
Like, I'll paint an example here and Amit, feel free to add here as well.
an example here and Amit feel free to add here
as well. For example
there is a fund
out there
that is being in works
to be launched by Zamanath. Zamanath is
going to launch one of the first of
its kind tokenized fund, a very large
nine digit fund inshallah next month I think.
The beauty of it is that
the whole ecosystem in ZitChain
is already rallying behind it.
The people at Oroswap are already making arrangements
of how that highly regulated tokenized fund
is going to get traded by the retail on Oroswap.
Imagine that.
Then the people at Permapod, the lending borrowing,
they're already preparing that how can that synthetic
or how can that derivative of that tokenized fund can be used
as a collateral for lending borrowing. Valdora is doing something around creating a vault around it.
So there is so much activity going on in there. Signally is actually working on it already that
how we will be able to create a service around it to attract capital to go into something which
is highly regulated, which is kind of has a
wall around it but zamanat is making sure that the way it tokenizes this fund on zik chain it is
available to the whole supply chain you know and which is where the the which is where the you know
uh the most attractive part is that the end user who is already you know um accepting the third party risk on certain levels. But right
now, despite accepting all those risks, they are not getting any access. But through this, they get
access, which is something very important. If you look at blockchain, the way the why blockchain
was created in the first place to actually provide access, you know, yes, you remove
intermediaries from in between, but you create access. So,
you know, tokenization should be an extension
of it and should not be considered as
like a Wall Street world coming out
of nowhere where, you know, like
people raising $200 million
and ultimately, you know, they're just
tokenizing a fund that is being
bought by the same money
that has been doing before and they call it tokenization
day. Like, I love the fact what RWA.xyz has done now
that instead of only showing the assets
that have been tokenized,
they've also been showing the asset
that has been distributed
and also among how many wallets.
All these metrics are continuously showing
that it is important that the assets
that are coming on chain and being tokenized are
available to the masses because if you don't do that then you don't attract retail and then if
you are leaving the retail out of an opportunity then what exactly the problem are you solving if
you want to just save some bucks then well you you can find other ways to do it you can you know
just work with ai disable a few people in a way that they are not uh you know in
the part of cost structure and that's about it but it's not about that it's about the excess
it's truly about giving the fair chance to everyone in the world you know which is not
available right now and if you don't do it then well there is no point um i'm just seeing if i if I not accepted.
Okay.
Amit, anything else
you want to add today?
No, I think
we are in a group
of very like-minded people
and we're all saying
the same thing.
I think really
the magic of or the promise of tokenization is ultimately in terms of how many people that you
can reach out to and you know for these tokens to be programmatic and represent things for which
even for institutional investors where they don't have, you know,
secondary market liquidity or price discovery or, you know, even a way to sort of custody
these assets.
I believe, you know, this is what tokenization solves for.
Yes, there is definitely going to be ways that the companies may pivot in terms of how
ways that the companies may pivot in terms of how they want to approach it.
they want to approach it.
But really, if you ask me, I think that the world that we're headed towards is going to
stop becoming a world of have-nots.
At least everyone, by virtue of blockchain, by virtue of AI, and by virtue of everything
And by virtue of everything that we're trying to do, you know, out there in space are going to have the same opportunity.
that we're trying to do out there in space, are going to have the same opportunity.
I think Elon has gone on record to say that universal employment is possible.
And universal employment or universal wealth is ultimately going to be a function of how democratized access to these new technologies and these opportunities become.
and these opportunities become.
And I think really Securitize is a bit on the, you know,
they're like falling behind with this approach,
but then again, Tuvish has owned.
Yeah, yeah.
Well, I think because I'm getting some messages
and some people want to understand
what exactly is the difference you know like between
what uh ppcc is doing and what securitize is doing so let's maybe emma if we can spend like
a couple of minutes and very clear way to explain exactly the difference and then we can again finish
it up with like why we prefer one side yeah no i just wanted to dumb things down like you know what what i understood
this securitized thing is like whitelist pre-sale which means your friends and family gonna get the
whitelist part you motherfuckers can buy and no other retail can actually ape neither they ape
later this dtcc means it's open to everyone
any can ape in it's just that simple you know because you have to dump things down for these
clowns bro you gotta understand like right now the space you know things are so complicated
any djn with an iq of 50 any monkey is listening he's fucking understanding what is happening he's here because
he sees you me maybe wiz a couple of others but you gotta like dumb things down for these people
you know they're trading shit coins they're trading shit coins you just tell them that listen
motherfuckers you missed on this nvidia you know i mean people who fucking invested in that they
made shit ton of money but you were like aping dog shit Inu.
Like, you know, and you were losing money over there while people actually made shit ton of money over there.
Because, you know, we are not allowed to trade that.
So DTC allows you to stop trading dog shit and maybe find the next Nvidia, you know.
And aping that shit, maybe some robotics shit.
And you can like make some life changing gains and shit, you know, and Ape in that shit, maybe some robotics shit, and you can like make some life changing games and shit, you know, and securitize is like friends and family only you motherfuckers can just watch us. And that's it. So I think I've dumped it down enough.
You dumped it down very well. Let'shai at anything. Cannot beat that. Especially on, you know, what he just said.
But yeah, broadly, I think, as he explained, it's very simple.
Securitize is gated.
And, you know, you have to walk through your KYC and everything,
and only then you're able to buy into these things.
At the back end, they are essentially custodian these stocks
and then creating on-chain
representations of them. The DTC is again a similar model, only that instead of them creating a
platform and asking you to KYC, they're just creating these tokens and putting them on DEX
for you to trade against them. So broadly if you look at how they are tokenized,
I think they're tokenized in the same way.
But what the compelling difference is,
who are they inviting to buy in?
And I think that's where Bulbhai summarized it
in the most beautiful way.
That one is all friends and family,
and dogs are not allowed.
And the other one is hey
it's an open party come
and you know enjoy
the spoils so
I'm with the latter one
absolutely no I think it's
very loud I think
I think it's anyone and everyone
who comes from a very I mean
who does not come from a Wall Street and not from
an uptight background and people like us you know like we've been from emerging countries and we've seen
things around the world and who truly understand the meaning of blockchain over the last decade
or so. None of us would go towards a side where you would limit ourselves to, you know, like
the elites only. And, you know, at an expense of, you know, just because of looking good to some regulator or some investor,
you should not limit, you know, this beautiful financial innovation to this selected few.
So I'll end up this space by thanking everyone who came in.
Yes, Bull Brother wanted to say something. Yes.
No, no, I just wanted to add one last thing because somebody told me a friend of mine, you actually
know him. He told me that, you know, you have to short the AI stocks like AI bubble or something,
you know, so he suggested me a platform called sex. So, you know, it took me one month just to
get the approval. And then based on your bank account details and everything, you have a certain
cap, you cannot put more than money, more than what you have over there and they have
so many questions so much kyc and one month you know it actually passed a lot of things actually
dumped before that so i mean this falls in the this one same category the second one the
securitized one so the tcc is making way more sense now thanks for actually having this space
even i learned a lot from this, to be honest.
Yeah, no, thank you.
Thank you very much for putting this.
And I think, I just want to thank everyone who came in today,
especially Bull, Stasher, Wiz, and everyone else who came in.
But my point is very simple, that, you know,
from our perspective, from a Zikshin perspective,
we don't want to take sides.
We are ready for both.
Like, you want to do it one way or the other,
just come work with us.
And we have the full stack available,
all the way from structuring to origination to technology, licensing, distribution,
whatever you need, we have it.
But just keep it in mind that, you know,
ultimately what you are working towards
as a project, if you come towards any ecosystem player
and you tell them that you want to do
a completely uptight kind of a fun structure where you just want to invite a certain people, yeah, I mean,
it will be done, it can be done. Blockchains are neutral towards that. But honestly, guys,
if you are working towards a long-term goal where you really want to bring the retail
into the picture, and if you truly, truly believe in the financial independence and to give
opportunity to everyone, then do it in the right way.
No one going to stop you for now.
But if you're in a position of power,
then history will judge you on what you do today.
At ZikChain, we are again neutral to it,
but we have a strong, strong, strong bias towards backing those projects,
to backing those founders and the funds which come in
and they want to tokenize in a way where the
retail can get true benefit without paying arm in the length or without going through
all the trouble.
We have a strong bias towards that and we will continue to have that.
You will see myself and the whole team aggressively working towards that and putting our point
across the industry as thought leaders, as the pioneers across PR, across different channels,
we will continue to push for that.
And trust me when I say this,
we have been through hell and heaven and everything.
And I can tell you,
there is no regulatory problem around it anyways either.
So it's truly a personal choice of who's picking what.
And we for once would like to stay
at the right side of the history.
All in for retail.
If retail does not come, tokenization means nothing. We are very solid about it. We stand firm to our ground. And we for once would like to stay at the right side of the history. All in for retail.
If retail does not come, tokenization means nothing.
We are very solid about it.
We stand firm to our ground.
Thank you everyone for joining in.
I have one thing.
Yes. You said at the end of it, you would give us which side you would take.
I think I made it very clear, right?
I'm all in for the DTC, right?
I mean, come on. You know me, right? I'm the man of clear, right? I'm all in for the DTC, right? I mean, come on.
You know me, right?
I'm the man of people, right?
Exactly.
I'll never...
Yeah, I mean, you know that, right?
The amount of money that we have spent
and the amount of time that we have spent in last one year,
just to make sure that anything
which is even restricted at the origination
goes through to the retail in instant.
We have enabled those mechanisms at Zikshin
and I think it will be a display in the next few days, you know.
So, pick the site very clearly.
I'll be more opinionated and public about it and let it be.
Thank you very much for hosting this.
It was amazing.
Insights
P
