Tokenized stocks, or RWA, are not a pseudo-demand.

Brother Milk wants to buy 1 million Tesla from personal experience:

1. Trading altcoins to earn USDT — USDC — new coins in the Coinbase — DBS card — Tiger Brokers — USD — Tesla.

2. During this process, I asked the DBS senior account manager, and he said that 1 million in funds requires 200,000 to buy wealth management, and 800,000 can only buy Tesla. In the end, Brother Milk had to keep a complete record of his trading altcoins for profit, because the bank still has a chance to risk control my card.

3. If Kraken could directly buy Tesla or Apple stocks, it would really not be a pseudo-demand, because there are too many people like Brother Milk in this society, fringe individuals of the contemporary financial system, who have to go through a lot of trouble to buy Tesla stocks.