BroadridgeFinancial Solutions (NASDAQ: BR) reported itsblockchain-based repo platform processed $385 billion in average daily volumesduring October, a 492% jump from the $65 billion recorded in the same monthlast year.The Octoberfigure represents a 13% increase from September's $339 billion average and putsthe Distributed Ledger Repo platform well ahead of crypto exchanges enteringtokenized equity markets. WhileBitget recently crossed $1 billion in cumulative stock futures volume andKraken reported $5 billion in total tokenized equity trades, Broadridge's repoplatform processes that level of activity in roughly one to two days.Institutional Repos DwarfRetail Tokenized Equity ProductsThe gapbetween institutional tokenized settlement and retail-facing products remainswide. Broadridge's DLR platform handles repurchase agreements, short-termcollateralized loans used by banks and dealers to fund securities inventories.These transactions involve actual treasury securities and other fixed incomeinstruments, not derivatives.Cryptoplatforms like Bitget offer futures contracts tied to stock prices rather thanownership of underlying shares. Tesla-linkedcontracts led Bitget's volumes with $380 million in total trading since launchin July. Broadridge processes more than that amount in treasury repos everyhour based on October's daily averages.Theplatform's growth reflects wider adoption of distributed ledger technology intraditional finance. Tokenized treasury and money market products reached$7.4 billion in assets by mid-2025, up 80% from the start of the year,according to data from RWA.xyz. That figure covers funds and bonds issuedon-chain, separate from the repo settlement volumes Broadridge handles.Survey Shows 80% of EarlyAdopters Cite Efficiency GainsBroadridgereleased findings from its 2025tokenization survey alongside the October volume data. The report claimsmore than 80% of institutions testing tokenized settlement cite improvedoperational efficiency and client engagement.The companypositions its repo platform as the largest institutional system for settlingtokenized real assets. Broadridge already processes repo transactions for 19 ofthe 24 primary dealers in U.S. government securities through conventionalsystems, giving it existing relationships with the banks and dealers nowtesting blockchain-based alternatives.Projectionsfor tokenized asset markets vary widely. A report from BCG and Ripple estimatesthe sector could grow from $600 billion in 2025 to $18.9 trillion by 2033,though that forecast encompasses all asset classes and includes both high-endand conservative scenarios. McKinsey projects digital securities issuancereaching $4 trillion to $5 trillion by 2030.Questions Around RetailProduct Structure PersistCryptoexchanges offering stock-linked products face different regulatoryconsiderations than institutional repo platforms. Bitget's stock futures settlein Tether's USDT stablecoin and function as derivatives without conferringequity ownership or shareholder rights. Thestructure resembles contracts for difference, which European regulatorshave flagged for high retail loss rates ranging from 74% to 89% of accounts.Kraken'stokenized equities, launched through a partnership with Backed Finance,represent actual stock ownership through Swiss-regulated tokens. The platformreported doubling revenue from the product as volumes crossed $5 billioncumulative, though it has not disclosed user counts or profitability figures.Switzerland'sFINMA recently granted a distributed ledger trading license to BX Digital,backed by Boerse Stuttgart Group. The exchange plans to list over 100 tokenizedstocks and ETFs for European institutional clients. U.S. regulators have notestablished comparable frameworks for domestic tokenized equity offerings.Broadridge'srepo platform operates in a different regulatory environment. Repurchaseagreements involve secured lending between financial institutions rather thanretail investment products. The platform uses blockchain to reduce settlementtimes and automate collateral management, but the underlying transactionsfollow existing repo market conventions.This article was written by Damian Chmiel at www.financemagnates.com.