Fidelity's Lai: Tokenized funds best serve balance-sheet needs, not round-the-clock liquidity

Fidelity International executive Giselle Lai has argued that tokenized funds hold their greatest long-term promise in balance-sheet management for large global institutions. Speaking on the topic, Lai pushed back against the widely cited benefit of 24/7 liquidity as the primary driver for tokenization adoption. Her perspective highlights a shift in how major financial firms are evaluating the practical utility of fund tokenization. For pension funds and similarly large institutional players, the ability to manage assets and liabilities more efficiently on a balance sheet is seen as the more meaningful advantage.