Arjun Jayaram, CEO of Baton Systems, provided insights on tokenising illiquid assets. According to Arjun, tokenisation may not necessarily bring new liquidity or access to new buyers and sellers for retail investors. However, he does see potential for tokens in facilitating asset mobility, particularly for bonds outside G7 currencies that are less liquid and more risky to exchange. Arjun suggests that tokenisation could enable more assets to be settled, thus releasing liquidity, in a riskless exchange such as token-versus-token or token-versus-cash. The article also explores the views of other experts and discusses the different ways in which tokenisation is being used by various banks.