Tokenization is emerging as a potential fix for global financial inequality, with Coinbase research arguing that bringing stocks and bonds onchain could unlock broader market access and reshape how wealth is created worldwide.
A New Capital Era Is Forming: Tokenization Could Expand Global Market Access and Wealth CreationChief Policy Officer Faryar Shirzad stated:
“The ultimate goal is clear: a world where anyone, regardless of their economic background, can easily convert spare earnings into fractional ownership of productive global assets.”
The paper examines how modern prosperity depends on both labor income and capital income, yet returns from asset ownership have outpaced wage growth for decades, creating a compounding divide. It argues that the most consequential fault line in the global economy is not simply between high earners and low earners, but between those who can access capital markets and those who cannot.
The research estimates that roughly 4 billion adults worldwide lack any exposure to equity or bond markets. Even in the United States, ownership remains heavily concentrated among higher-income households, while barriers such as high minimum investment thresholds, complex onboarding requirements, and layered fees restrict participation. The analysis shifts the financial inclusion debate toward the unbrokered, describing people who may have access to bank accounts but lack practical avenues to invest in diversified portfolios of productive assets.
The paper describes a simplified investment experience where traditional frictions fade, noting:
“In this new landscape, the ability to invest should be as simple as sending a text message, empowering individuals to participate in the wealth creation that drives our global economy.”
FAQ ⏰ What is the capital access gap identified by Coinbase Institute? It refers to billions of adults lacking meaningful access to equity and bond markets despite having income or bank accounts. How does tokenization aim to improve financial inclusion? Tokenization enables fractional ownership and lower investment minimums through programmable assets on blockchains. Why does the paper emphasize access over income inequality? Because capital income from asset ownership has outpaced wage growth for decades, compounding wealth disparities. What role do policymakers play in an onchain financial future? The paper urges clear tokenization rules, blockchain neutrality, and recognition of self-custody to protect consumers.
