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$TX @txEcosystem is a compliance-first operating system for RWA tokenization. @FINTECHTVglobal @txEcosystem #nyse #rwa #stocktokens #edumeme #smarttokens [Spoken audio]: Welcome back to the show, Ashley Ebersol joins us now. He is the co-founder of TX, a marketplace for real world assets. We're gonna talk SpaceX tokenization. There's a lot of things going on. Grateful for your time today. Great, thanks so much for having me, JD. I'm excited to be here. So let me, it's the first time you and I are talking since the most closely followed SpaceX IPO. What did it reveal about the state of tokenization? Maybe some of the limits in that conversation. So I think it was a massive IPO and you had demand outstripping supply two to one. Anytime you see that, you're gonna have orders that go unfulfilled. You had that in the traditional markets and you had it in crypto markets. It happens that there were pre-sales of some tokenized stocks through some of the platforms and those just didn't get fulfilled. So I'm in TX where I am, we try to say you don't have a token minted until you actually own the asset. So a little bit of a different horse before the cart type thing. And yeah, I mean, I think when you have massive demand, things get harder to maintain. In what way does tokenization maybe give retail investors out there a bit of better access to the IPO landscape? I think as tokenization continues to mature and tokenized stock providers are part of underwriting syndicates and that kind of thing, settlement is near instant. when they get an allocation of IPO shares, it's just going to give that access to a much broader audience and do it much more quickly. What changes have already happened at some of the big regulatory agencies? Pick your acronym of choice, let's say the SEC, that have allowed for the adoption of tokenization and in what ways does new work still need to be done at a place like the SEC? So I think the SEC has, I guess the way I put it is unwrung a lot of bells that the prior administration had sought to, using a lot of metaphors, had sought to put in the way of progress in this regard. And they've issued guidance, they've done everything they can most easily to say we're gonna clear a lot of that out of the way, you're still gonna have to operate the other traditional rails, but we're gonna make it easier for you to do that. So it's just a much more cooperative, forward-thinking administration at the SEC. When people buy a tokenized version of a stock, What is the actual asset? What are they actually owning? I ask is we got a lot of would-be investors out there and they're trying to become smarter investors by the day. No, and thank you for raising that because investors have to be really conscientious about what they're buying. Just know what you're buying. Some of the products are synthetic. They provide price exposure, but you're not actually owning the underlying stock. With a platform like TX, at time that you press purchase for, you know what, let's say a share of a given stock, a token is minted. So you don't have the token until you actually have the underlying share that's maintained in custody for you. So in that way, the two markets really act in parallel but it gives you something you can hold in your digital wallet. So people just have to be aware with their buying and in some cases it's gonna be price exposure, something that behaves a little more like a derivative. In our case, it's an actual stock, just something you can hold in your wallet. Ashley Eversal, co-founder of TX, really grateful for your time. Thanks for stopping by the show today. Thanks so much for having me take care. We'll do it again soon. Don't go anywhere watching
