Golden Finance reported that in a report released on the 7th, Multicoin co-founder Tushar Jain said that he does not believe that public stock issuance will become the first tokenized security adopted by the mass market. Markets that are less liquid, more opaque, and benefit more from tokenization are more likely to be the first to adopt. This could be startup equity, there's no reason to pay Carta or Angelist to manage it when the blockchain can manage the capital table for free. It could be the fixed-income instrument Figure has been working on for years. It could be an LP interest in a fund.