How Wall Street learned to love the blockchain, as US regulators accept tokenized assets and other tech can offer significant advantages in speed and efficiency (Nikou Asgari/Financial Times)

US regulators have accepted tokenized assets, which has led to Wall Street embracing blockchain technology, according to the Financial Times. Financial companies hope to modernize markets with this technology, which can offer significant advantages in speed and efficiency. However, systemic risks remain.

The acceptance of blockchain technology comes as markets have been rallying, with Asian shares mixed and European pre-market data pointing to a slightly higher open. The Dow Jones Industrial Average recently reached a record close, driven by increased US manufacturing activity.

Despite the market gains, concerns remain about the US economy, particularly the national debt, which is approaching $40 trillion. The CEO of Rockefeller Capital Management, Greg Fleming, has expressed worry about the fiscal situation in the US, citing large annual deficits and the fact that the federal government now spends more on interest payments than on national defense.

Brief written by urgent.news from Techmeme, Euronews, Free Malaysia Today, Fortune — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.