Tokenization's impact on settlement times:

1. _Instant or near-instant settlement_: Tokenization enables fast and efficient settlement, reducing the time gap between trade execution and settlement.

2. _Reduced settlement risk_: Tokenization eliminates the risk of settlement failure, ensuring that assets are transferred securely and efficiently.

3. _Lower settlement costs_: Tokenization reduces the costs associated with traditional settlement methods, such as intermediaries and manual processing.

4. _Increased efficiency_: Tokenization automates settlement processes, reducing the need for manual intervention and increasing overall efficiency.

5. _Improved liquidity_: Faster settlement times enable investors to quickly access their funds, increasing market liquidity.

6. _Reduced counterparty risk_: Tokenization eliminates the risk of counterparty default, ensuring that assets are transferred securely.

7. _Increased trade volumes_: Faster settlement times enable investors to quickly execute trades, increasing overall trade volumes.

8. _Enhanced customer experience_: Tokenization provides a faster and more efficient settlement experience, improving customer satisfaction.

By reducing settlement times, tokenization increases efficiency, reduces costs and risks, and improves the overall trading experience, making it an attractive solution for investors and financial institutions alike.