Joshua Riezman, Chief Legal & Strategy Officer at GSR, made a compelling case at Consensus by CoinDesk 2026 that blockchain adoption is increasingly becoming an infrastructure discussion rather than a cryptocurrency discussion.
His comments focused less on speculation and more on market structure. The significance of approximately $300 billion in stablecoins, $15 billion in tokenized treasuries, and $3 billion in tokenized private credit is not simply asset growth, it is evidence that financial products are beginning to migrate onto new rails. Riezman argued that blockchain can improve trading, settlement, and clearing while reducing dependence on multiple intermediaries that historically sat between counterparties.
The structural takeaway:
✅ Blockchain increasingly viewed as market infrastructure
✅ Tokenization expanding beyond experimental use cases
✅ Settlement efficiency becoming a primary adoption driver
✅ Regulatory clarity reducing institutional hesitation
The broader question is no longer whether financial assets can move onchain. It is whether existing market infrastructure can deliver the same combination of speed, transparency, and programmability that institutions are beginning to expect from next-generation financial systems.
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