【 US Stock Tokenization / Coin Stock Ecological Report 】
In the past week, the topic of "Coin Stock", that is, "US Stock Tokenization", has been widely discussed, and the daily trading volume of xShocks has also exceeded 10 million, with many projects and exchanges taking their own actions.
Today, I would like to summarize the current "US Stock Tokenization" ecosystem:
1️⃣ xStocks - Open Liquidity & Multi-Chain Distribution
Relying on the Swiss DLT law, the compliant structure of Liechtenstein & Jersey dual SPV, operating on Solana, Chainlink price feeds, supporting equity dividends.
Supports 60 US stocks/ETFs and has been integrated by many CEX/DEXs, supporting on-chain US stock trading, such as: Kraken, Bybit, GMGN, etc.
Currently, the 24h trading volume exceeds 10 million USD, accounting for nearly 90% of on-chain trading volume.
2️⃣ Robinhood - Ecological Closed Loop & Compliance First
Regulated by the Lithuanian central bank, holding MiFID II / MiCAR crypto asset licenses, focusing on the European market.
Currently issuing stock tokens based on ARB L2, with plans to operate a self-developed L2 in the future, supporting equity dividends.
The first batch will support 200+ US stocks/ETFs, as well as unlisted private companies' total tokens.
3️⃣ Coinbase - Focused on the US Market
Coinbase needs to wait for SEC exemptions to activate the clearing + compliance reporting of its licensed subsidiaries.
Operating on its own Base L2, the first batch will support 50 to 100 US stocks/ETFs, also supporting dividends.
4️⃣ Some entities to be followed up
➤ A few days ago, $ONDO acquired Oasis Pro, which has a full set of US licenses, and may share xStocks' market share in the future.
➤ Regarding Binance: It is rumored that Yzi Labs also led an investment in a coin stock platform, and it is very likely to issue stock tokens on the BNB Chain in the future. It seems that my cousin is also very interested in this business 😆
💡 Summary
Although in 2019, #Binance and FTX also attempted US stock tokenization, they were unsuccessful due to the limitations of the times.
Times have changed, and the policy level has been significantly relaxed, allowing "US Stock Tokenization" to progress, so it can be seen as a new narrative. Regardless of the outcome, let us wait and see, and the follow-up developments will be closely monitored.