After looking at various tokenized stock (crypto stock) solutions, most prohibit US users from participating, while it is not clearly stated that users from mainland China are prohibited.

The essence of financial innovation is regulatory arbitrage, and the Chinese market is one of the largest regulatory arbitrage markets.

A rough survey indicates that there are about 100 million crypto users in the Chinese market and several million US stock users. This determines that the main users in the tokenized stock market are still crypto users and new users.

At the same time, tokenized stocks are an important means for Crypto to break through and attract the next billion users. Directly attracting new users to crypto stocks is less costly than converting US stock users or crypto users.

The pain points for US stock users in the Chinese region are: tax and foreign exchange withdrawal regulations. Tokenized stocks can effectively address this pain point, but US stock users in China still represent a niche market, with a relatively small user base, primarily serving professional investors.

The needs of Chinese crypto users: air coins and altcoins lack wealth effects, and there are no conventional methods to trade US stocks. Directly using stablecoins to recharge and trade US stocks, betting on the volatility and wealth effects of US stocks, still represents potential trading demand.

From the perspective of target users, MyStonks is the earliest and best-performing on-chain stock exchange that connects stocks and blockchain channels in the Chinese market.