Stock Tokenization: The Hottest Trend in TradFi-Web3 Fusion (2025)
Imagine owning a slice of Apple or Tesla stock directly in your crypto wallet, tradeable 24/7 from anywhere in the world. That’s stock tokenization—and in 2025, it’s blowing up. According to rwa.xyz, the market cap of tokenized stocks has surged from near-zero to hundreds of millions this year. The secret? A shift from “synthetic ” to “real asset ” models, with derivatives and liquidity poised to fuel its “second growth curve.”
What is Stock Tokenization?
In short: 1 token = 1 real stock, but on the blockchain. These tokens mirror the value of traditional stocks (like TSLA or AAPL) and let you trade them anytime, anywhere—no broker account, no timezone restrictions.
It’s not new. Early projects like Synthetix and Mirror created “synthetic stock tokens” using overcollateralized crypto (e.g., SNX, UST). These tracked stock prices via oracles but didn’t grant actual ownership. Problem? They crashed when oracles failed or collateral collapsed (hello, UST).
2025: The Real Asset Revolution
This year’s growth comes from a game-changer: 1:1 backing with real, off-chain stocks. Two main paths emerged:
– Compliant third-party issuance (e.g., Backed Finance’s xStocks): Partner with licensed custodians (like Alpaca Securities LLC) to buy and hold stocks, then issue tokens.
– Broker-led closed loops (Robinhood-style): Licensed brokers buy stocks directly and issue tokens, controlling the full “buy-to-mint” process.
The key? Verifiable real assets—making it safer, more compliant, and ready for institutional adoption.
Ecosystem Spotlight: From Issuance to Trading
A full stock tokenization ecosystem has three layers:
– Infrastructure: Blockchains, oracles, settlement rails (maturing fast).
– Issuance: Regulated issuers (the competitive battleground).
– Trading: CEXs, DEXs, and DeFi (lending, derivatives—where user experience and liquidity are won).
Here are the key players:
Ondo Finance: From Bonds to Stocks
Famous for tokenizing Treasuries and bonds (e.g., USDY, OUSG), Ondo is now diving into stocks. Teaming up with regulated custodians like Anchorage Digital, it holds real U.S. stocks and issues on-chain tokens. It even plans a $250M fund with Pantera Capital to back RWA projects.
Injective: The “Wall Street on Chain” Blockchain
A high-performance finance-focused blockchain with built-in order books and derivatives. Its ecosystem has 200+ projects (DEXs, lending, NFT markets). Highlights:
– Broad assets: Tokenized tech stocks, gold, forex—all tradeable.
– TradFi connections: Partners like Coinbase and Circle link off-chain custody with on-chain trading for low latency and cost.
Backed Finance: Global Exposure, One Wallet
Operating under Swiss law and EU MiCA rules, Backed issues fully collateralized tokens via 1:1 custodied stocks (via Alpaca). It covers U.S. stocks, ETFs, European securities, and indices—letting you mix U.S. tech, European blue chips, and commodity ETFs in one wallet, 24/7.
Block Street: Unlocking Liquidity
Need cash but don’t want to sell your TSLA.M (tokenized Tesla)? Block Street lets you use stock tokens as collateral to borrow stablecoins. Its beta launch fills a DeFi gap—and if it adds perpetuals or options, it could spark the “second growth curve.”
The Second Growth Curve: From “Token” to “Financial Lego”
Most products today are just “on-chain receipts”—tradeable, but not yet usable as collateral, in lending, or as building blocks for strategies. But DeFi history shows: Liquidity explodes when assets become “composable” (e.g., ETH took off when it became collateral for loans).
Stock tokens’ next act could be:
– Lending & credit (like Block Street’s collateral loans);
– Shorting & hedging (inverse tokens, perpetuals, options);
– Cross-platform portfolios (e.g., “Tech + Gold + Bonds” on-chain funds).
Final Thought
Stock tokenization isn’t just “stocks on chain”—it’s TradFi and Web3 shaking hands. With players like Ondo and Block Street building the rails, we might soon trade, borrow, and hedge with stock tokens as easily as we swap crypto today. Who knows? Your next stock trade could be in your wallet, not your brokerage app.
Read More《股票代币化:属于时代的流动性第二增长曲线》
This content is AI-generated and does not constitute investment advice. Please exercise your own rational judgment.
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