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OpenLedger (@OpenledgerHQ): The challenge with vaults isn't tokenization.

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The challenge with vaults isn't tokenization. It's settlement. Treasuries, private credit, and real estate don't settle with the same assumptions as crypto-native assets. ERC-4626 standardized vault accounting. ERC-7540 introduced asynchronous deposits and redemptions. The next generation of vault infrastructure is being designed around real-world settlement constraints, not just on-chain composability.

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