Many people have not truly realized how big this matter really is NASDAQ has announced a partnership with cryptocurrency exchange @ krakenfx to advance a 24-hour trading plan for tokenized stocks. At the same time, @ okx, which has just received investment from ICE, the parent company of the New York Stock Exchange, may also become one of the next important participants to enter this system More importantly, this kind of transaction is gradually breaking away from the traditional securities dealer system, such as Schwab or TD Ameritrade, and started to be undertaken by the crypto trading platform. This model is on the way to full implementation 1/tokenized stocks Tokenized stocks refer to the representation of real-world stocks in the form of tokens on the blockchain. Each token corresponds to a certain amount of stock equity, allowing stocks to circulate and settle on the chain 2/24-hour trading Traditional stock markets have fixed trading hours, while blockchain systems operate continuously, so tokenized stocks can theoretically achieve 24-hour, 365 day trading 3/Changes in Regulatory Attitudes Recently, the Federal Reserve, FDIC, and OCC jointly stated that eligible tokenized securities can generally be subject to the same capital rules as their corresponding traditional securities. This means that regulatory authorities are beginning to recognize this asset form at the institutional level 4/Cryptocurrency platform enters bank infrastructure Kraken has also obtained authorization from the Federal Reserve's main account, which allows it to access the core payment and clearing systems typically used by banks. This means that cryptocurrency companies are beginning to enter the financial infrastructure that originally belonged to the banking system Putting these things together, a clear trend will be observed Cryptocurrency exchanges are gradually becoming an important platform for tokenized asset trading. Trading hours may shift from limited market periods to round the clock operations, and asset settlements may increasingly occur on the chain Many people believe that this may be a prelude to the large-scale listing of traditional financial assets on the blockchain. Technology, regulation, and infrastructure are advancing simultaneously, and once institutional funds begin to enter, the global capital flow patterns may undergo significant changes And blockchain and crypto are really becoming the global financial infrastructure