PANews reported on May 25th, citing CoinDesk, that US digital asset platform Prometheum stated that the core bottleneck to the development of tokenized securities is not technology or regulation, but rather the lack of a mature Wall Street distribution network. Prometheum believes that most current tokenized securities projects primarily target crypto-native users and have not yet effectively reached traditional brokerages, wealth management institutions, and institutional investors—channels that control the majority of capital flows. The company points out that for tokenized securities to achieve large-scale adoption, they need to be integrated into existing securities issuance, brokerage, and custody systems, rather than solely relying on crypto platforms for circulation. As traditional financial institutions such as the NYSE, Nasdaq, and DTCC accelerate the deployment of tokenized securities infrastructure, the industry is gradually evolving from "tokenized assets" to "native on-chain securities."