Arch Public co-founder says tokenization is 'just a talking point' now

A wave of regulatory and institutional momentum around tokenization is reshaping the crypto narrative in the United States. 

Even long-time critics like JP Morgan CEO Jamie Dimon now champion blockchain rails. 

On TheStreet Roundtable, industry leaders argued that tokenization’s arrival marks a structural shift for U.S. markets, though not necessarily the explosive catalyst some expect.

Related: What is tokenization? Explained

Melker opened the discussion by noting how quickly attitudes have flipped at the top of U.S. finance. 

“Jamie Dimon literally talking about tokenization… This guy was the ultimate Grinch for crypto,” he said.

Melker highlighted the irony as the CFTC launches a pilot program allowing tokenized assets to be used as collateral.

Tillman Holloway, CEO of Arch Public, said the moment feels long overdue. 

“I’m just glad that we’ve gotten blockchain to a point where it’s fast and cheap. That’s what we’ve been waiting for,” he said.

The shift coincides with Wall Street’s scramble to establish a foothold. 

JP Morgan recently announced it would accept Bitcoin and Ethereum as collateral, mirroring a similar move by the CFTC. 

More News:

• Bitcoin struggles for direction despite clearer regulations, Economist says
• Ran Neuner says compliant privacy coins could fuel next crypto wave
• Upexi CEO says Solana staking fueled 183% profit surge, calls it 'the future of financial rails'

Meanwhile, the SEC’s own leadership appears increasingly open to blockchain rails. Melker referenced comments from SEC Chair Paul Atkins that all U.S. markets will be on blockchain within two years, a claim the panel took with skepticism — but enthusiasm.

Yet, not all participants are convinced that tokenization will be the technological leap many assume it will be. 

Arch Public co-founder Andrew Parish argued the trend has become more of a talking point than a revolution. 

“The tokenization stuff, it's starting to feel like, especially out of the mouths of Jamie Dimon, it's just a talking point. Tokenization…It's not necessarily this giant leap forward. It just means markets will be open 24/7 and you’ll be able to move stuff,” he said. 

Comparing it to the shift from paper checks to debit cards, Parish emphasized incremental improvement rather than market-shaking transformation.

Still, the regulatory green lights may create competitive winners and losers. Holloway noted that XRP’s absence from the CFTC collateral pilot was likely intentional. 

“It’s a poke in the eye to Ripple,” he said.

Holloway argued the move delays Ripple’s ambitions to provide institutional-grade collateral rails through partner Hidden Road. 

“If the CFTC or SEC approves XRP in that function, they’re up and running.”

Eleanor Terrett, host of Crypto America, added that regulators seem increasingly comfortable engaging with blockchain after the SEC quietly closed high-profile investigations on Ondo Finance, some of which industry players didn’t even know existed. 

“Everybody was under investigation… You should just assume you’re under investigation,” Parish joked.

Despite skepticism about hype, the panel agreed the CFTC pilot and Wall Street’s tokenization pivot represent major structural change. 

“These types of headlines… are not something to be ignored,” Holloway said. “This seems like a pretty good setup for a nice little holiday run.” 

Related: BitcoinOS CEO says Bitcoin 'supercycle' is up for 'pure discovery'