ONDO Spikes 8% as Major Derivatives Exchanges Mull BlackRock’s Tokenized RWA as Collateral Option

State Street sees significant potential in tokenized collateral asset in traditional finance, too. Donna Milrod, the bank’s chief product officer, said in an interview this month that collateral tokens could help mitigate liquidity stress during financial crises, for example allowing pension funds to post money market tokens for margin calls without selling underlying assets to raise cash.