Market infrastructure firms have raised concerns that tokenized securities may incur significantly higher costs due to various regulatory and operational challenges. Additionally, they point out that without a system of interoperability, these securities are likely to experience fragmented liquidity, which means that the trading and investment opportunities in tokenized assets could become scattered across different platforms, making it more difficult for investors to access a unified pool of resources. This lack of smooth integration between different tokenized systems could ultimately hinder the growth and acceptance of tokenized securities in the broader financial market.
source: https://www.coindesk.com/markets/2026/03/04/market-infrastructure-firms-warn-tokenized-securities-face-higher-costs-split-liquidity-without-interoperability