️ The world is becoming an exchange that never closes. On January 19th, the New York Stock Exchange announced the development of a tokenized securities platform. 24/7 trading of US stocks and ETFs, stablecoin deposits, instant settlement, and placing orders in US dollars. The partners are Bank of New York Mellon and Citigroup, both of whom are old money. The plan is still awaiting regulatory approval. But the direction has been set. Lynn Martin, the President of the New York Stock Exchange, said: For over two hundred years, we have been changing the way the market operates. We are leading the industry towards fully on chain solutions Saying it's leading is actually catching up. Last week, the CEO of ICE, the parent company of the New York Stock Exchange, said, 'We are chasing Robinhood.'. '' ICE has a market value of over 100 billion US dollars. Robin Hood is an Internet securities firm founded in 2013. And who is Robinhood chasing? Last June, Robinhood launched tokenized stocks in the European Union, based on the Arbitrarum chain, with 24-hour trading and stablecoin settlement. Their CEO said, "Once you experience the 24/7 market, you can't go back The previous disdain chain was that Wall Street looked down on Internet brokers and Internet brokers looked down on crypto exchanges. Now the New York Stock Exchange is learning the gameplay of Robinhood, which is using the infrastructure of the crypto circle. Mutual integration, reversing the Heavenly Gang, everything can be traded, no one looks down on anyone. The New York Stock Exchange is going to demolish three walls this time. ⏰ The first thing is time. The US stock market closed at 4 o'clock, and the New York Stock Exchange is required by law to close. The problem is that the earth is round, and while New York sleeps, Tokyo wakes up. Global investors want to buy US stocks, so why should the market follow New York's schedule? Last year, someone raised a concern: what if the Tesla factory explodes over the weekend? NASDAQ is closed, but tokenized Tesla on the chain can be bought and sold as usual. The price oracle did not update on Friday afternoon and only resumed on Monday morning. During the 48 hours, everyone traded a "ghost price" that was disconnected from the real world. At that time, this was considered a flaw in tokenization. The current response from the New York Stock Exchange is that I also drive 24 hours a day, so there won't be this problem, right? Speaking of space. Previously, an Indonesian wanted to buy US stocks by opening a US stock account, exchanging US dollars, waiting for T+1 delivery, and going through a bunch of compliance procedures. Now deposit with stablecoins, theoretically you can buy directly with USDT. The CEO of ICE, the parent company of the New York Stock Exchange, spoke the truth in an interview last week: stablecoins are "dollarizing" the world. Previously, the dominance of the US dollar relied on oil settlements and SWIFT systems, but now there is an additional path on the chain. ICE is already working with Mellon and Citigroup in New York to develop "tokenized deposits," allowing institutions to continue transferring funds after the bank closes, adjust positions across time zones, and replenish margin in the middle of the night. Time zones are becoming increasingly less restrictive on finance. Finally, there is the threshold. The New York Stock Exchange's phrase 'place an order in US dollars' means you can buy 0.001 shares. Previously, a Berkshire Hathaway stock cost over 700000 US dollars, but now theoretically, you can hold a little for just 1 yuan. At present, the plate of tokenized stocks is still small, http://RWA.xyz The data shows that the global market value was around 340 million US dollars at the end of last year, but it has multiplied several times in a year. Kraken, Bybit, and Robinhood all rushed to launch such products last year. The New York Stock Exchange is the latest entry. It is also the heaviest in weight. But if this is interpreted as encryption finally breaking through the circle and winning, it is actually a bit self moving. 24-hour trading, stablecoin settlement, on chain clearing, and fragmented holding These things were all developed by the cryptocurrency industry over the past decade. But we haven't been able to make any large-scale applications with this set of things ourselves, and we are still arguing about the rise and fall of meme coins and airdrops to this day. Now Wall Street has taken over this entire infrastructure and used it to trade Apple, Nvidia, and Tesla. It's a bit like the foam of the Internet. Amazon and Google survived after the chicken feathers. The foam burst, but the infrastructure remained, only a group of people made money on it. Actually, I think what is really expanding is not cryptocurrency, but the very thing of being 'tradable'. Last year in the US election, the trading volume bet on Polymarket exceeded $100 million in a single day. A predictive market that turns' who will be the president 'into a contract that can be bought and sold. Someone in New York is cutting Manhattan houses into tokens for sale, and for a few hundred yuan, you can own one ten thousandth of a building, making or losing money as housing prices rise or fall. Some people are also keeping an eye on the order volume of Domino's Pizza near the Pentagon. The sudden surge in orders may indicate that the Department of Defense is going to work overtime all night, and there may be something big going on, which can also become a trading signal. The wall of time has been dismantled, the wall of space has been dismantled, and the wall of the threshold has also been dismantled. Anything can become tradable. The action taken by the New York Stock Exchange today is just one more step in this direction. Nasdaq also submitted a similar application in September last year, and the American Depository and Trust Company received SEC approval in December. It is expected to go online in the second half of this year. The New York Stock Exchange announced today that the progress is actually ahead of schedule. Really, everyone is fighting for the same thing: to keep trading going forever. Why does the market sleep when the earth doesn't sleep 。