This briefing note summarizes the December 2024 IIF Digital Asset Forum, respecting that the forum is conducted under the Chatham House Rule and does not represent the official position of the IIF or its membership. Members raised recent success in tokenization experiments for discussion and discussed the implications of these projects on resource allocation for future efforts. The broader policy environment and coming changes in the U.S. were raised, noting that there is much uncertainty around future stances. Participants also discussed the prospect of consolidation at the infrastructure level for digital assets, offering views on whether this would be necessary or desirable as a future state. The IIF convenes the Digital Asset Forum with our knowledge partner, the Oliver Wyman Forum.