In the early 17th century, the Dutch East India Company invented stocks; 400 years later, tokenization brought stocks 2.0.
On June 30th, the well-known US internet broker Robinhood (NASDAQ: HOOD) announced the launch of Robinhood Stock Tokens, allowing EU clients to trade US stocks and ETFs on the blockchain. On the same day, the tokenized stock product xStocks issued by Swiss financial instrument provider Backed went live simultaneously on the crypto exchange Kraken and Bybit.
According to PANews's review, currently 8 crypto institutions have announced their entry into the tokenized stock market, using different technical routes (Arbitrum, Solana, Base, Ondo Chain) and custody solutions (self-custody, xStocks, BitGo, etc.) to meet global investors' multiple needs for flexible trading, on-chain transfer, and compliance guarantees, becoming one of the important landing scenarios for RWA.
How big will the tokenized stock market cake be? Will it become the next prominent track after stablecoins for RWA (Real World Assets)?
(The rest of the translation follows the same approach, maintaining the structure and translating all text while preserving <> tags and specific terms as specified in the initial instructions.)On June 17, Ondo Finance announced the establishment of the Global Markets Alliance, jointly committed to improving interoperability, investor protection, and access to tokenized RWA, with members including:
Solana Foundation
BitGo (Custody Institution)
Fireblocks (Web3 Security Company)
Jupiter, 1inch (DEX Aggregators)
Trust Wallet, Bitget Wallet, Rainbow Wallet
Alpaca (Securities Broker)
Alliance members each play their part: wallet providers will integrate Ondo's tokenized asset standards, aggregators are expected to support programmatic access to tokenized assets, BitGo and Fireblocks will provide institutional custody and infrastructure, and Alpaca will handle brokerage and regulatory services for tokenized securities.
INX Digital: Launching Tokenized Private Equity
On June 18, the US tokenized asset trading platform INX Digital announced a collaboration with Swiss blockchain startup Aktionariat AG, launching tokenized equity $DAKS on its INX Marketplace, open to global investors.
According to Starlabs Consulting, INX Digital offers regulated security tokens and tokenized RWA trading, with fully compliant licenses in most US states, remittance licenses, and broker and alternative trading system licenses from the SEC and FINRA.
Aktionariat AG focuses on providing blockchain-based innovative tokenization solutions. Since its launch in 2021, it has facilitated over 50 million Swiss francs in trading volume, serving over 30,000 users and helping more than 70 private companies achieve equity tokenization, with a total market capitalization of 400 million Swiss francs.
Institutions: Tokenized Stock Market Value Could Exceed Trillion Dollars
According to RWA.xyz data, as of June 30, the total market value of tokenized real-world assets reached $24.47 billion, with tokenized US Treasury market value at $7.385 billion, while tokenized stock market value was only $341 million.
Although tokenized stocks still represent a small portion of the RWA market, their attention is rapidly rising as institutional investors value faster and lower-cost entry into the US stock market.
According to Cointelegraph, STOKR's CEO Arnab Nask, a Luxembourg fintech company focusing on securities tokenization (STO) and asset tokenization services, stated in a panel discussion on April 16 that while the potential total market size of tokenized stocks is difficult to predict accurately, it is "absolutely a trillion-dollar market".
Dinari's Chief Business Officer Anna Wroblewska stated that by 2025, the demand for such financial instruments from Web3 wallets, digital banks, and traditional financial service companies will have "explosive growth", and they have received "much more demand from potential partners than imagined".
"There is enormous demand for US public market stocks... even global individual investors want to participate in the US capital market. Tokenization makes this process fast and low-cost," Wroblewska said. For similar reasons, the demand for tokenized US Treasuries is already high.
Starlabs Consulting noted that recently, the Nasdaq and S&P 500 indexes hit new all-time highs, with the Dow Jones index just 1.3% away from its historical peak. As of June 30, the total US stock market value reached $61.94 trillion, and the US federal debt scale has exceeded $36 trillion. In comparison, the total market value of tokenized stocks is still less than $400 million, and the market value of tokenized US Treasuries is just over $7 billion, leaving enormous future market potential.
