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  "documentTitle": "Towards the unified secondary market: The evolution of distribution channels and evaluation of Asset Tokenization Benefits",
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      "text": "DEXs are gaining more market share compared to CEXs due to a.o. self-custody, easier entry for issuers, fewer regulatory obligations, and additional investor access.",
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      "text": "Self-custody of funds: Centralized exchanges (CEXs) require users to trust the exchange with their assets before trading, while decentralized exchanges (DEXs) let users hold their crypto in their own wallet for greater control (self-custody).",
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      "text": "Additional investor access: Anyone can create a wallet and trade on DEXs. Furthermore, DEXs are used and supported by a tech-savvy community that are constantly looking for innovation and expansion of the web3 offering.",
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      "text": "Source: DeFiLama; TheBlock; EY-Parthenon analysis",
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