Should Your Company Launch a Token in 2025?
Until recently, the idea of a public company issuing its own digital token seemed implausible. The regulatory environment was too uncertain, and the risk of enforcement too high. In 2025, that calculus is changing. With the passage of the GENIUS Act and momentum around the CLARITY Act, U.S. policymakers are building clearer guardrails for digital assets.
That shift raises a practical question for executives: should your company launch a token in 2025? In a recently released whitepaper, I explore these issues in detail, but let’s take stock of the main takeaways here.
The Regulatory Reset
Two new legislative efforts have altered the landscape:
The GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins) creates a comprehensive federal framework for stablecoins. Only licensed institutions can issue tokens, reserves must be 100% backed by safe assets like Treasuries or deposits, and issuers face clear AML/KYC obligations. Stablecoins are now regulated like digital cash, not speculative securities.
The CLARITY Act (Digital Asset Market Clarity Act), still moving through Congress, aims to resolve the long-standing confusion over whether tokens are securities or commodities. Under the Act, tokens issued for fundraising start under SEC jurisdiction but can transition to commodities once a network matures and decentralizes.
Together, these measures don’t eliminate uncertainty, but they give companies far more predictability than before. What was once a regulatory gamble is now a strategic option.
Why Companies Are Exploring Tokens Again
The new clarity has revived interest across industries. From financial institutions to tech platforms, firms are looking at tokens as tools—not just speculative assets. Three motivations stand out:
1. Unlocking Liquidity and Exchange
Tokens can turn illiquid or non-transferable assets into tradeable instruments. A real estate firm might tokenize property shares, while a platform could issue tokenized credits or rewards. Unlike gift cards or loyalty points, tokens are transferable and liquid, opening up new revenue and engagement models.
2. Faster, Cheaper Payments
Blockchain-based tokens settle instantly, 24/7, at a fraction of the cost of legacy rails. Cross-border transfers that normally take days can clear in minutes, with fewer intermediaries and lower fees. For companies operating globally—or managing high transaction volumes—this is a meaningful advantage.
3. Aligning Incentives with Users and Investors
Tokens create “skin in the game.” Customers, contributors, or developers can hold tokens that gain value as a platform grows, strengthening loyalty and network effects. Unlike traditional loyalty points, tokens can be traded, staked, or programmed with rewards, giving companies new levers to shape behavior.
When Tokenization Makes Sense—and When It Doesn’t
Not every company should tokenize. A token makes sense if your business:
Operates a multi-sided platform where a native currency reduces friction.
Handles cross-border or high-volume payments where speed and cost matter.
Benefits from community alignment, such as marketplaces or creator platforms.
But in “single player” businesses—like niche SaaS tools—or where the token has no real utility, tokenization can create more risk than value. A token that exists only to raise capital or ride hype will attract scrutiny and may damage trust.
Practical Takeaways for 2025
Treat tokenization like a product launch. Legal, technical, and economic design must be deliberate.
Partner where necessary. Non-banks may need licensed issuers to comply with GENIUS Act rules.
Anchor tokens in real utility. A token should improve payments, liquidity, or incentives—not exist for speculation alone.
Expect scrutiny. Regulators, users, and investors will demand transparency on reserves, governance, and use cases.