The author argues tokenization, like the shipping container, will concentrate value at infrastructure junctions rather than in the tokens themselves. Mastercard closed its $1.5 billion BVNK acquisition August 3, adding $30 billion in annualized processing volume. Circle agreed September 8 to buy Tazapay for roughly $400 million in stock, gaining payouts in over 100 markets. Nasdaq invested $100 million in Kraken's parent Payward on September 10. Block, World Liberty Trust, Bridge and Coinbase have pursued OCC charters, though the author says charters alone won't decide winners.

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