TOKENIZATION IS MOVING INTO A MARKET MEASURED IN HUNDREDS OF TRILLIONS UK clearing houses manage hundreds of trillions of pounds of notional contracts daily. The Bank of England now says existing rules do not prevent them accepting tokenized forms of eligible collateral. The overlooked mechanism is margin. Faster movement across firms, jurisdictions and operating hours could reduce the need to pre-position assets or maintain larger collateral buffers when margin calls arrive. For $BMNR shareholders, this validates the institutional tokenization thesis, not immediate revenue. No blockchain was selected, but tokenization is moving into the risk machinery of wholesale finance.