🔥 How else can US stocks be played? See how exchanges are bringing "US stocks" on-chain.
It has to be said that the wave of tokenization is advancing step by step, from USD and bonds to stocks now.
Recently, @krakenfx, in collaboration with @BackedFi, launched "xStocks" @xStocksFi, listing over 50 US stocks and ETFs such as Tesla, Apple, and Nvidia in one go. It supports 24/7 on-chain trading, with 1:1 physical asset custody, targeting non-US markets. @OndoFinance is also not to be outdone, having just officially announced that its "Ondo Global Markets" will be launched on Solana, supporting on-chain trading of stocks and other public securities, further strengthening Solana's implementation path in the RWA scenario. In addition, Bybit @Bybit_ZH also announced this year that it supports USDT trading of 78 high-quality global stock assets.
Behind these actions is another deep integration of the crypto industry and traditional financial narratives: turning the most valuable and liquid off-chain asset—US stocks—into a new on-chain asset.
Around 2020, FTX and Binance @binancezh launched tokenized stock businesses, but ultimately failed due to regulatory issues. Now, Kraken has chosen to bypass the minefield in terms of regulatory compliance and asset custody—Backed holds the actual shares and emphasizes that they can be redeemed for cash at any time, as close as possible to traditional financial logic.
🤔 So, why are these institutions collectively exerting their efforts at this point in time? Here are our views:
1. On the one hand, the growth space of crypto exchanges is limited, and there is an urgent need to find incremental growth. Tokenized stocks happen to connect the crypto and TradFi user groups, and have natural advantages in attracting new users.
2. On the other hand, the US stock market has a market cap of over $50 trillion USD, accounting for more than 45% of the global stock market, making it the largest and most standardized asset pool. "On-chaining" it can not only improve liquidity and trading freedom, but also lay the foundation for underlying assets for the next stage of DeFi innovation.
3. Technically, Solana's 24/7 high-throughput, low-latency trading characteristics also make it a popular candidate for the "on-chain Nasdaq."
4. Of course, compliance is still the biggest variable. If tokenized stocks are to truly become popular, they still cannot avoid the regulatory gray areas. Kraken x Backed is taking a "non-US customer + European regulation" combination punch. Whether it can really go far remains to be seen.
However, what is certain is that—
The on-chain US stock battle has just begun.
Whether it is Kraken, Ondo, or more exchanges that may enter the game next, if this round of expansion can be implemented in compliance, it has a good chance of reshaping the infrastructure landscape of the global capital market.
⭐️ Regarding on-chain US stocks, big names in the industry have already had foresight and discussed it in advance!
Alex Xu @xuxiaopengmint @Mint_Ventures
https://t.co/dt8omMNjzz
Driven by the shift in the SEC's attitude and the maturity of technology, the on-chaining of US stocks and security tokenization are becoming the most promising new narratives in the RWA track, and are expected to explode after the regulatory environment becomes clear.
mindao @mindaoyang
https://t.co/5299luIMHh
Driven by the shift in the regulatory environment, the maturity of infrastructure, and changes in market structure, security tokenization is expected to become a realistic path for on-chaining US stocks, and inject incremental assets and use cases into DeFi.
Lao Bai @Wuhuoqiu
https://t.co/3icAvPSD2r
RWA is ushering in a period of narrative warming. The on-chaining of assets such as US stocks has regained feasibility in the new regulatory environment. To C and To B scenarios have made breakthroughs, and the track is shifting from concept to practicality.
雨中狂睡 @0xSleepinRain
The on-chaining of US stocks is a new narrative with the potential to be bought by the market. It can integrate DeFi and RWA, and has early participation value. The only uncertainty is regulation.
https://t.co/2MkjNDh0bD
What do you think of this track? Where are you playing on-chain US stocks? Welcome to discuss in the comments! 👏