BlackRock's Fink: 'Every Asset Can Be Tokenized' — But Digital Verification Must Come First

In his 2025 annual letter, BlackRock chief executive Larry Fink wrote that "every stock, every bond, every fund—every asset—can be tokenized", saying markets would never need to close and transactions would settle in seconds. He linked the shift to identity, pointing to India's digital ID system and writing: "If we're serious about building an efficient and accessible financial system, championing tokenization alone won't suffice. We must solve digital verification, too."