Perhaps you are not aware of the tokenization of stocks on the New York Stock Exchange. Apart from 7x24 hours, what has changed? 1. This matter has not been approved yet, and it is unknown when it will be approved. The platform itself is likely to be centralized and decentralized. 2. This platform can tokenize old US stocks as well as issue new tokenized stocks. 3. Both new and old platforms exist simultaneously, with the New York Stock Exchange continuing to have closing times while the new exchange maintains uninterrupted liquidity. At opening, liquidity is synchronized through the shared Pillar engine and tokenized shares' fungibility, allowing arbitrage to correct deviations. During non opening hours, liquidity is mainly provided by market makers and limit order books, and there are plans to introduce oracle machines to balance prices between different public chains. 4. It is not certain which stablecoin will be used for transactions, but compliant stablecoins are necessary and supported by fiat currencies. We are considering collaborating with banks such as BNY Mellon and Citi to prepare for the adoption of tokenized deposits, and we do not rule out the possibility of issuing new stablecoins. 5. The issued tokens and regular shares can be exchanged at a 1:1 ratio, enjoying all the rights of regular shares. 6. Some people say they will crack down on the current US stock tokenization exchanges, but in fact, this new platform will not directly face users, but needs to be accessed through broker dealers, which means qualified US stock tokenization exchanges can access the platform. 7x24 may not necessarily be favorable for retail investors, but rather for changes in volatility structure, including weekend event risks and overnight information shocks, which will be more directly reflected in prices. For example, the Greenland tariffs this time will erupt directly without waiting for Tuesday. 8. This is the true RWA of tokenization in the US stock market, but I still believe that the ceiling will not be very high. Its biggest increment lies in the transformation of infrastructure such as trading time, settlement funds 7x24, fragmented shares (placing orders by amount), and faster settlement. For ordinary investors, besides the convenience of trading and the increase in liquidity limits, it may not necessarily bring about fundamental changes. For market makers, T+0 and 7x24 have a significant improvement in capital turnover. But it also increases inventory and margin pressure during non opening hours, which may result in wider spreads and higher impact costs. 10. The New York Stock Exchange can establish a platform and tokenize the equity of existing stocks into tradable or settled forms, but issuing companies can only truly use this tokenization issuance capability when choosing native digital securities. But these tokenized stocks cannot be directly used for DeFi. 11. It poses a great challenge for trading platforms that are not native stock tokens and cannot connect to new exchanges. It is a great challenge for platforms that do not have compliance and large-scale funding. Binance and Bitget, which have already been tokenized in the US stock market, have the opportunity to acquire a clean, small US broker dealer that already has membership in the New York Stock Exchange. Just like acquiring a company with a payment license. Connect to the tokenized platform of the New York Stock Exchange through this subsidiary. Or collaborate with compliant US securities firms, where the exchange provides front-end interfaces and user traffic, and all back-end transactions are routed to this compliant securities firm for trading on the New York Stock Exchange. The greatest potential of the system lies in 24/7 collateral management. Institutions can instantly use their tokenized US stocks as collateral on Sunday morning for real-time pricing and transfer by the clearing house of the New York Stock Exchange, to meet margin requirements for derivative trading or obtain liquidity. This has released the liquidity of trillions of dollars of dormant assets. The New York Stock Exchange will become the main 7x24 official oracle for global financial markets. Previously, the weekend speculation in the cryptocurrency industry could only rely on guessing or looking at illiquid over-the-counter derivatives. In the future, global assets including the London and Tokyo Stock Exchanges may have to anchor the prices generated by the New York Stock Exchange over the weekend in reverse. This further consolidates the pricing hegemony of US dollar assets. 15. The coexistence of old and new systems will bring structural arbitrage opportunities, especially concentrated before and after the opening, during periods of thin liquidity, and when cross venue or cross chain settlement frictions arise. @bitget VIP， Lower rates and more generous benefits