This past week, Intercontinental Exchange Inc.

ICE, the parent company of the New York Stock Exchange, announced a $2 billion investment into prediction-markets platform Polymarket. On the same day, S&P Dow Jones Indices SPGI, the company behind stock-market indexes like the S&P 500 SPX, announced a partnership with fintech company Dinari to create a crypto-focused index.

Although these are two different legacy financial institutions partnering with two different fintech companies, both announcements referenced one thing: tokenization.