# Why the Marketplace Is Not the Tokenization Engine Tokenization and collateralization occur within Global Gold Tokens, not the Marketplace. The Marketplace: * does not mint or burn tokens * does not perform collateralization or title transfers * does not manage backing, supply invariants, or monetary parameters It only provides a non-custodial interface through which exchange may occur between willing buyers and sellers of allocated assets. This separation of concerns: * prevents systemic risk * preserves clean accounting * mirrors traditional commodity market architecture * allows each layer of the system to scale independently The result is a marketplace that behaves like a modern, digital extension of physical bullion markets—without introducing custody, leverage, intermediation, or discretionary control.