Tokenized treasuries have now surpassed the $9 billion mark. The initial phase of market access is essentially complete—adoption barriers have fallen away. But here's where things get tricky: infrastructure has become the real constraint. Most platforms still lack the throughput and settlement efficiency to handle this scale smoothly. That's precisely where SEI positions itself. The network's speed and design optimizations make it a natural fit for handling the next wave of tokenized asset growth. As the market matures beyond access issues, infrastructure quality will separate winners from the rest.