Bitcoin’s price swings no longer deter institutional interest in tokenization, says Galaxy’s head of tokenization Thomas Cowan. Interest in tokenization has separated from Bitcoin’s price, indicating blockchain’s benefits for traditional financial assets. Tokenization, representing assets digitally on a blockchain, has seen growth due to eased regulations and interest from major finance companies.

Bitcoin (BTC) has had fluctuations, hitting over $126,000 in October but dropping to around $102,000. Cowan emphasizes the need to demonstrate the clear benefits of tokenization to institutions as a more efficient way to move and store financial assets. Stablecoins and tokenized money market funds are gaining traction with increased institutional interest.

Stablecoins have surged in popularity following US regulations earlier this year. Tokenized money market funds, investing in assets like government bonds, are attracting institutional interest as more capital moves onchain. Cowan believes the industry is on the brink of demonstrating its transformative potential to major financial companies, urging investment now for future growth.

Read more at Cointelegraph: Bitcoin Price No Longer Impacting Interest in Tokenization