Significant Meaning | Buy US stocks with cryptocurrency, no need for USD, no banks, no KYC! This operation is top-notch!

Kraken, Bybit, and even Robinhood have launched cryptocurrency stock trading platforms—

This means you can directly purchase US stocks with digital currency seamlessly, without converting to USD, without linking a bank account, and without KYC. You can directly use your digital currency to buy!

The logic is quite simple: the exchange purchases US stocks for custody and then issues a corresponding digital currency on-chain, which you can exchange with other digital currencies.

The most important thing is: no restrictions on mainland KYC!

It seems that this has suddenly become a hot topic in the industry:

The play of cryptocurrency stocks has been mentioned countless times in the previous cycle, but it was likely stifled by compliance issues, making it impossible to implement. The relaxation of Trump's family office policies has indeed allowed everyone to act freely, as pure external capital inflow is beneficial for US stocks, and the Trump administration is undoubtedly pleased!

Here’s how I see this matter—

In essence, these cryptocurrency stock platforms simulate a securities market within cryptocurrency exchanges.

Kraken, Bybit, and Robinhood have evolved from "crypto-to-crypto exchanges" to "full asset trading platforms."

This is a significant shift, representing an industry trend = the logic of cryptocurrency exchanges merging with brokerages. Coinbase has long been planning a similar model, and Kraken has also applied for a US brokerage license. The next step is likely to be a full-scale "on-chain US stock market."

The "free financial attributes" of crypto assets are once again reinforced, and this action benefits both US stocks and Bitcoin. However, this is still a small tree that is growing.

I think there are potential developments ahead—

1) Using stock tokens for on-chain collateralized lending,

2) Compliance DAO funds with KYC whitelist buying US stocks,

3) US companies actively going on-chain, issuing a dual-token model?

At the same time, I also think there are some issues here that knowledgeable friends can discuss together—

1) Legal gray area: Who guarantees the clearing of on-chain stocks? Are the linked stocks truly 1:1 custodial?

2) Trust cost: Is the "stock token" issued by the exchange a form of "unregulated securities"? How is it different from synthetic assets during the FTX era?

3) Arbitrage channels? Will the price difference arbitrage between US stocks and cryptocurrency stocks create a new Degen playground?

I feel this is just the beginning, like a tentative charge that has just begun.

On one side is US stocks, and on the other is the cryptocurrency world; the two worlds were originally unrelated, but now they are connected by the intermediary of "cryptocurrency stocks."

It could be an innovation in cross-border finance or another gray arbitrage space that hasn't exploded yet.

But regardless, once this gap is opened, it will be hard to close again.

Good for industry trends!

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