Tokenized assets are gradually moving from being experimental products in the Crypto industry into the trading system of traditional finance.

On September 17, the U.S. SEC approved a temporary, conditional regulatory exemption that allows qualified tokenized securities trading venues to trade certain U.S. listed stocks on-chain.

This exemption is valid for five years and allows qualified platforms to trade tokenized NMS stocks using distributed ledger technology and AMM liquidity pools. The SEC clearly mentioned that on-chain trading could bring about 24-hour trading, fragmented ownership, self-custody, and near-instant settlement possibilities.

This means that tokenized stocks are beginning to transition from "products issued by Crypto platforms" to on-chain trading models recognized by the traditional securities market.

Traditional finance is also actively entering

Right after the regulatory policy was implemented, the collaboration between traditional trading infrastructure and Crypto platforms deepened further.

On September 24, the New York Stock Exchange (NYSE) and Blockchain.com announced they would explore around-the-clock trading of tokenized U.S. stocks and ETFs, focusing on the connection between traditional capital markets and blockchain trading systems.

Previously, Ondo’s tokenized stock products had already entered Binance, further expanding the distribution channels of traditional stock assets among Crypto users.

The market is seeing a new combination:

Traditional finance provides assets, blockchain provides issuance, trading, and settlement infrastructure, while Crypto platforms provide new user access points.

Real change may occur in "settlement"

In the past, discussions about tokenized stocks often focused on “can we buy Apple or Nvidia on-chain?”.

However, based on the SEC's exemption this time, what deserves attention is the trading infrastructure itself.

Traditional securities trading involves multiple segments like brokers, exchanges, custodians, clearing, and settlement.

The on-chain system theoretically allows parts of that process to be completed directly on distributed ledgers.

That is also why the range of tokenized assets has recently expanded from stocks to government bonds, funds, and bonds.

As of September 8, publicly tracked data shows that the scale of distributed tokenized RWA is about $39.2 billion, of which tokenized U.S. government bonds amount to about $15.9 billion.

India's recent pilot of "Demat 2.0" is also starting to test tokenized corporate bonds and explore faster issuance and settlement using DLT.

What to look for in the next stage?

First is true trading volume, rather than how many tokens have been issued.

Second is institutional participation, whether traditional funds, brokerages, and trading institutions have truly entered.

Finally is whether regulation can continue to be implemented.

The SEC's currently provided exemption is still temporary and conditional, meaning that the traditional securities market has not fully migrated on-chain.

But the direction is becoming increasingly clear.

Tokenization is shifting from “moving assets to the blockchain” to redesigning the infrastructure for asset trading and settlement.

If subsequent trading volume and institutional participation continue to grow, then RWA may truly change not the price of a certain token but where traditional financial assets will be issued, traded, and settled in the future.

If you are also following the Crypto market and want to participate in trading or asset allocation, you can register through the following exclusive channels and enjoy discounts:

Binance: Register through the exclusive link, fill in the invitation code aicoin668, and enjoy a 10% rebate.

Registration link: https://jump.do/zh-Hans/xlink-proxy?id=3

Benefit group: https://www.aicoin.com/link/chat?cid=gmLgwvKD1

OKX: Register through the AiCoin exclusive link to enjoy a permanent 20% rebate.

Registration link: https://jump.do/zh-Hans/xlink-proxy?id=2

Benefit group: https://aicoin.com/link/chat?cid=l61eM4owQ

Bitget: Register through the AiCoin exclusive channel to enjoy a 10% fee rebate.

Registration link: https://jump.do/zh-Hans/xlink-proxy?id=6

Benefit group: https://aicoin.com/link/chat?cid=N63yYYKQ

You are also welcome to join the AiCoin-related communities to get more information on new coins and earning opportunities on exchanges:

Official Telegram community: https://t.me/aicoin_support

AiCoin Chinese Twitter: https://x.com/AiCoinzh

The content of this article represents the author's personal views and does not represent the platform's position. The views, conclusions, and suggestions in the text are for investors' reference only and do not constitute any investment advice related to the platform. The market has risks, and investment should be cautious.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。