All assets will be put on chain. This is not a slogan, but an ongoing migration. 1/USD: The earliest asset in the chain The story begins with USDT in 2014. Twelve years later, the size of the stablecoin market has exceeded 300 billion US dollars. It proves that moving the value of the real world onto the chain is a huge demand that truly exists. 2/US Treasuries and Funds Three years ago, Wall Street was generally dismissive of tokenized US bonds. Today, three years later, the scale of tokenized US bonds has reached 13.5 billion US dollars. The most powerful footnote is that BlackRock, the world's largest asset management company, personally stepped down. In March 2024, it launched BUIDL on Ethereum, and in just a few weeks, it topped the list of the largest tokenized funds. 3/Gold and Commodities The growth curve begins to steep here. Tokenized gold: Q1 2026 spot trading volume reached 90.7 billion US dollars. One quarter, exceeding the entire year of 2025. RWA perpetual contract: Reached $524.8 billion in Q1 2026, more than double the amount for the entire year of 2025. 4/Stocks: The latest migration, CEX is fueling the trend As of March 2026, the scale of tokenized stocks is approximately $4 billion, with tokenized US stocks exceeding $1 billion. Behind this, centralized exchanges have made great efforts. Taking @ MEXC as an example, it did not launch stocks in a general way, but divided the "buying stocks" matter into three types of requirements and provided answers separately. RealStocks (Real Stocks) Prepare for those who want lower level ownership. Eligible users can directly buy and hold real shares of over 7000 global stocks and ETFs, provided by licensed securities firms in collaboration with MEXC. Holding positions can earn corresponding dividends and bonuses, with a very low threshold of at least 5 USDT to participate. Stock Futures Leverage knife. Covering over 300 types of targets, spanning across US, Hong Kong, South Korean, and Japanese stocks. Specially designed for financial report trends, macro emergencies, sector rotation, and risk hedging. The most familiar leverage gameplay for encrypted users seamlessly shifts to traditional stock fluctuations. ▌ Tokenized Stock 24/7 price exposure. More than 200 types of targets are traded directly in USDT on the spot market. Some products can even break through the regular trading hours of the US stock market. It does not provide company ownership and voting rights, only giving you the purest two things: price exposure and volatility returns. Why is CEX so proactive? The answer is hidden in their own anxiety. The narrative of altcoins is receding in waves, and trading volume is tightly hijacked by bull bear cycles. CEX urgently needs new targets that can cross cycles. And the global stock market is a sea of assets worth hundreds of trillions of dollars, any diversion of a small fraction is enough to create a new growth curve. 5/Conclusion Calmly wrap up the ending. Compared to traditional assets worth hundreds of trillions of dollars worldwide, assets already on the blockchain cannot even be considered as a fraction. What is even more alarming is that many assets have been put on the chain but have not come to life - there are tokens, but no transactions; There is scale, but no liquidity. The direction has been determined, but this migration has just begun. MEXC0808