The tokenization we have seen in financial hubs and by major financial institutions to date looks to me like token tokenization. Earlier this month, UBS Asset Management launched a USD Money Market Investment Fund built on Ethereum. The fund “seeks to open the door to the world of decentralized finance, reduce barriers and provide access to products and services to a broader range of market participants, bringing them closer together”, but is also only available through authorized distribution partners. This seems like corporate buzzwordery. More smoke and mirrors. Authorized distribution partners sound like the antithesis of decentralized finance.