Fidelity’s Matthew Horne says the line between TradFi and onchain finance may vanish

Wall Street has spent years treating crypto rails like a separate country with its own customs and passport control. Fidelity’s Matthew Horne thinks the border may simply stop existing. Horne leads Fidelity’s digital asset strategists. He said the gap between traditional finance and onchain finance might disappear entirely, leaving behind what he called just finance. What Horne said in Singapore The comments came during a panel at Longitude Singapore on October 8, 2026. The topic was institutional tokenization, the process of representing traditional assets like funds or bonds as tokens on a blockchain. Horne described the movement of institutional assets onchain as rapid and irreversible. He singled out US asset managers as especially motivated. According to Horne, the draw comes down to two things: better access for investors and the ability to break into new markets. The numbers behind the pitch Demand for tokenized real-world assets, excluding stablecoins, climbed 41% over the prior 30 days. The number of holders reached 493,000. Capital moved too. More than $1.2 billion flowed onto onchain platforms during that same 30-day stretch. Combined, stablecoins and tokenized assets no...