The Axelar Foundation, together with Citibank, Deutsche Bank, Mastercard, Northern Trust, and Centrifuge, published a joint research paper at the Axelar Foundation and Metrika, Institutional Interoperability: How the Financial Institution Group Navigates the Multi-Chain World, which explores how to improve the accessibility and liquidity of tokenized assets while combining flexibility, privacy, transparency, and scalability. Tokenized assets are on-chain representations of financial assets such as real estate, currencies, and securities. A recent report released by The Boston Consulting Group and market operator ADDX predicts that the value of tokenized assets will reach trillions of dollars within a decade. All the institutions involved in the report emphasized that in order to realize this potential, an interconnected network model incorporating multiple blockchains and legacy systems is needed.