Christine Moy, Head of Digital Assets, Data and AI at Apollo (AUM $908 billion), dismissed commonly cited blockchain benefits as insufficient drivers for mainstream adoption. Speaking at a Hong Kong Fintech Week panel, she argued that operational efficiencies, automation, and delivery versus payment are attractive features but fall short of being game changers.
The transformative opportunity lies elsewhere. “The killer use case for blockchain is being open architecture infrastructure where multiple different asset types can coexist and be programmable,” Moy said.
The market is gradually tokenizing key portfolio components: cash through stablecoins, money market funds, private credit, real estate, and most recently US listed equities. While DeFi smart contracts have proven effective at rebalancing portfolios with cryptocurrencies, Moy sees broader potential.
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