The idea of transforming stock shares into blockchain tokens ceased to be a curious experiment to become, in 2025, a trend with practical repercussions. From Buenos Aires to Mexico City, more and more investors are buying digital shares of Apple, Mercado Libre, or Petrobras at any time and without going through the usual filters of traditional brokers.

What makes this proposal so attractive? And why are regulators in the Southern Cone and large global funds starting to pay attention?

What does it mean to tokenize a stock?

Tokenizing means issuing a digital asset on a blockchain network that represents, in whole or in part, a real security. A single Tesla share, for example, can be divided into one hundred or one thousand tradable digital units starting from five dollars.

The token replicates price, dividends, and —in regulated versions— even voting rights, but removes geographical barriers and reduces settlement times from days to seconds.

Why the idea captivates the markets

Those living in Bogotá or Rosario no longer need to open an account at the NYSE or bear international commissions to expose themselves to large-cap companies. With a Web3 wallet and stablecoins, it is possible to buy, sell, or use those tokens as collateral in DeFi protocols. The operation is 24/7, settles instantly, and back-office costs plummet, as the blockchain takes care of updating the 'ledger' in real time.

Platforms are running pilots with traditional issuers, while public networks —Ethereum, Polygon, Stellar— provide the necessary infrastructure. Even the Mexican Stock Exchange and the Argentine CNV are already working on sandbox regimes that allow small and medium-sized companies to raise capital through digital securities offerings.

The obstacles that still hinder mass adoption

The main challenge is liquidity. A token can perfectly reflect the price of Coca-Cola, but if few traders buy or sell it, the spread will be wide and the experience frustrating. The industry, therefore, promotes specialized market makers and bridges that connect the traditional stock market with on-chain exchanges.

There is also a lack of regulatory homogeneity. Are these securities, digital assets, or both at the same time? Brazil, Chile, and Colombia are making progress in defining it, but each jurisdiction presents nuances that complicate continental expansion. Without clear rules, large pension funds or insurers prefer to wait: they need institutional custody, standardized risk metrics, and accounting reports accepted by their auditors.

The transformative potential for Latin America

Even with hurdles, tokenization is already starting to change the game. For the retail investor in the region, it means fractional access to expensive stocks without costly intermediaries; for local companies, a more agile global financing avenue than a traditional IPO; for the crypto ecosystem, the arrival of 'real' value that legitimizes decentralized finance.

Additionally, it opens up unprecedented scenarios: using stock tokens as collateral for a loan in stablecoins, receiving dividends automatically in the same wallet, or participating in corporate votes without leaving home. This interoperability between the physical and digital worlds is difficult to match by conventional stock market infrastructures.

The market will not go back

There may be a lack of standards, deep liquidity, and a uniform regulatory framework, but the direction is set. Global banks are testing the custody of security tokens, exchanges are developing divisions for digital assets, and regulators are creating test windows. When economic incentives are so evident —lower costs, greater reach, and speed— change is usually a matter of time.

Instead of imagining an immediate replacement of the NYSE or B3, it is better to think of parallel circuits that will gradually integrate. Some will continue to operate during market hours while others will prefer to trade tokens at midnight; both flows will ultimately coexist and, probably, feed off each other.

For the Latin American investor who is currently looking askance at cryptocurrencies, the tokenization of stocks may be the ideal entry point: it combines the familiarity of corporate names with the technical advantages of the blockchain. Closely observing this advance —and studying which issuers, networks, and custodians manage to overcome the mentioned challenges— will be key to not being left out of the next big wave of financial disruption.

Because the future of markets may not be solely digital: all indications suggest it will, above all, be tokenized.

#tokenización #ACCIONES #Token

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Image by tonodiaz, available on Freepik