Stock tokenization (Tokenized Stocks) is an important area connecting traditional finance and blockchain. Currently, tokens worthy of attention in the market mainly focus on two major directions, while potential risks must also be noted:
1. Native tokens of traditional stock tokenization platforms
These platforms focus on tokenizing traditional stocks such as U.S. stocks and Hong Kong stocks in the form of ERC-20 tokens. Their native tokens are often used for platform fee payments, governance voting, or ecological incentives. Typical projects include:
- FTX Token (FTT): Once launched tokenized products for stocks like Tesla and Apple, later suspended due to regulatory factors; its current value mainly relies on the exchange ecosystem.
- MANTRA (OM): Focuses on compliant tokenization of real-world assets (RWA), covering categories such as stocks and bonds, currently in the early stages of development.
- Polymath (POLY): A long-established security token offering (STO) platform, with a technical architecture that can support stock tokenization business.
2. Blockchain projects laying out the RWA sector
These projects focus on 'tokenizing traditional assets' as a core direction, with stocks being a potential expansion area, and the future growth space is worth paying attention to:
- Ondo (ONDO): A leading project in the RWA sector, has partnered with U.S. financial institutions to launch tokenized government bonds and funds, with potential future extension to stocks.
- TokenFi (TOKEN): A sub-project of the Floki ecosystem, focusing on asset tokenization, covering diverse categories such as stocks and real estate.
- Propy (PRO): Focused on real estate tokenization as a core advantage, the technical logic can be extended to stocks and other asset categories.
3. Key risk warnings
1. Regulatory pressure: Stock tokenization involves securities attributes, and many regions such as the U.S. and Europe have clearly halted related services, making compliance a core threshold.
2. Liquidity limitations: The trading depth of tokenized stocks is far inferior to that of the traditional stock market, which may face issues such as large bid-ask spreads and trading difficulties.
3. Project selection: Prioritize projects with complete compliance qualifications and transparent team backgrounds (such as Ondo, Polymath), and avoid platforms without clear regulatory frameworks.
4. Investment strategy reference
- Short-term attention: ONDO (leading in the RWA sector with advanced business implementation), POLY (a well-established STO platform with deep technical accumulation).
- Long-term tracking: If leading institutions like Coinbase and BlackRock get involved in stock tokenization, their ecosystem-related tokens may usher in developmental opportunities.
Final recommendation: Before investing, thoroughly study the project white paper, verify compliance progress, and strictly control positions to reduce uncertainty risks.
