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GSR exec says tokenized fixed income could boost institutional collateral
Andy Baehr says institutions could use tokenized short-term Treasuries as collateral for futures and OTC trades, putting that cash to work.
GSR managing director of asset management Andy Baehr told The Block that tokenization has clear institutional use cases, including tokenizing short-term fixed-income products for collateral. Speaking in an interview at the Wyoming Blockchain Symposium 2026, Baehr highlighted a potential role for tokenized Treasuries in market “plumbing.”
Baehr said institutions posting collateral for futures or over-the-counter trades could redeploy that collateral into short-term Treasuries. He described the approach as scalable, adding that it is aimed more at institutional workflows than retail users.
He also said the concept of mass tokenization of equities is “exciting,” because it could support 24/7 trading and allow investors to trade tokenized equities on platforms they already use for digital assets. Baehr cautioned that the pace and scale of adoption remains to be seen.
The Block reported that GSR has been expanding its tokenization strategy, including a lead investment in Libeara in April, after prior moves such as acquiring Autonomous and Architech in March. Baehr also said lending is still developing in crypto and that counterparty risk analysis will be important as lending grows.