Tokenization does not remove the market around the token.
Digital assets still depend on rights, identity, liquidity, custody, settlement, governance, and failure allocation.
A digital representation can compress transaction mechanics without eliminating the institutional system that gives the transaction meaning.
Tokenized securities and other digital assets still require an issuer or originator, an enforceable underlying right, participant eligibility, ownership records, custody and key management, trading rules, market data, liquidity, settlement assets, finality, corporate actions, reporting, recovery, and dispute handling.
Integration therefore matters more than novelty. A tokenized market must connect digital execution to banking, payments, conventional securities infrastructure, legal records, identity systems, compliance controls, and institutional governance.
Digital Finance Infrastructure addresses digital money and transaction systems. Capital Market Infrastructure addresses the wider market architecture into which those systems enter. Assurance Infrastructure addresses the control and evidence layer required for institutional reliance.
Infrastructure Portfolio: digital finance becomes durable only when technology, legal structure, compliance, liquidity, governance, settlement, assurance, and institutional operations function as one infrastructure.