The article presents T7X’s “native issuance” model, in which a token is part of the security’s authorized issuance from the start and a transfer agent maintains the official ownership record. Citing Pantera Capital research on 593 tokenized assets across 11 asset classes, it notes that 77.6% were “digital wrappers around traditional infrastructure” rather than securities in their own right. Wyoming law recognizes a “certificate token” that lets shares be represented on a blockchain, and T7X Equities serves as transfer agent for Tranquil Healthcare Fund I, a Tier 2 Regulation A+ offering of up to $75 million qualified by the SEC. The author argues that a token is only a real asset when its holder is recorded on the transfer agent’s books.
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