Tokenization push moves from stocks to hard-to-trade private equity

Firms are turning stocks into blockchain tokens that trade around the clock, and the same push is now reaching private equity, the shares of companies that never list publicly. Wall Street exchanges and crypto platforms are both building the plumbing. The promise is faster settlement and access to assets that were hard to buy or sell. The open questions are who really owns what, and how these tokens are priced and protected.