Blockchain Becomes Invisible Settlement Rail
Han Qin, co-founder & CEO of Jarsy, on the rise of fractional pre-IPO investing
The real prize is not turning stocks into a crypto niche, it is removing the old plumbing that makes private investing slow, expensive, and lumpy. In practice, tokenization matters when it hides SPV paperwork, shrinks minimum checks from $25,000 plus to $10, and lets the investor see one simple position while the issuer, custody, and settlement work happens in the background. That is how blockchain stops being the product and starts being the rail.
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Jarsy still uses Delaware SPVs to buy real secondary shares, but sells non voting economic rights as tokens instead of selling SPV memberships directly. That is a packaging change with real consequences, fewer signatures, smaller check sizes, on-chain proof of reserves, and a cleaner app experience.
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The same pattern shows up across the market. PreStocks frames tokens as a digital wrapper over SPV exposure that makes pricing continuous and trading always on, while Monark argues the winning model is infrastructure embedded inside existing brokerages, not a standalone crypto venue.
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That makes incumbents dangerous competitors. Kraken, Robinhood, and Securitize already have users, licenses, or institutional distribution, so if blockchain becomes invisible settlement, the firms that own customer flow and compliance will capture more value than pure token wrappers.
The market is heading toward private assets showing up inside ordinary brokerage and wealth apps, with tokenization handling settlement, custody reporting, and fractionalization behind the scenes. If that happens, the winners will look less like crypto exchanges listing exotic instruments, and more like the new DTCC layer for private markets with consumer apps on top.