DUSK: Risks & friction points
Regulatory complexity: cross-border rules, securities law, custody, and reporting obligations create operational and legal tail risk.
Trust & custody: issuers and investors must trust the legal wrapper and any off-chain registries or custodians involved.
Execution risk: partnerships, integrations, and actual tokenized issuance are harder than marketing copy; €300M pipeline is an ambition, not proof of settled assets.
Market signaling: token price / market cap are small relative to incumbent markets — project success depends on real-world issuance and recurring flows, not speculative demand.