币界网报道：Blockchain and tokenization are transforming asset management by modernizing outdated fund infrastructure and enabling innovative investment products. Traditional systems relying on spreadsheets, emails, and manual reconciliations are being replaced with permissioned ledgers and smart contracts, ensuring real-time transparency and automation of capital calls, distributions, and settlements. Leading firms like Apollo, Franklin Templeton, and BlackRock are pioneering tokenized private credit and money market funds, offering fractional ownership, secondary liquidity, and intraday yield. On-chain yield vaults and programmable investment strategies are emerging as new product categories, combining transparency, automation, and compliance. Asset managers must adopt blockchain to streamline operations, reduce risks, and meet evolving investor demands, as the next generation of investment platforms is already being built on-chain.