The financial world is witnessing a seismic shift as major trading platforms Bybit, Robinhood, and Kraken simultaneously launch tokenized US stock services, enabling 24/7 trading of blue-chip stocks like Apple and NVIDIA through blockchain technology. This move signals the accelerating tokenization surge in traditional markets, with McKinsey predicting a $2 trillion blockchain asset market by 2030.
The Dawn of Round-the-Clock Stock Trading
Three distinct platforms made history on June 30 by introducing tokenized stock services:
- Robinhood launched EU-based stock token trading via Arbitrum network, supporting 200+ US stocks/ETFs
- Bybit and Kraken partnered with Swiss platform Backed Finance to offer ~60 tokenized stocks/ETFs
- All services provide 1:1 asset-backed tokens with continuous trading capabilities
Adam Levi, Co-founder of Backed Finance, declared:
"xStocks represents a huge leap toward democratizing financial market access. We're building the foundation for an open, efficient, and inclusive global financial system."
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Platform Comparison: Three Technical Approaches
| Platform | Model | Blockchain Used | Key Feature |
|---|---|---|---|
| Robinhood | Brokerage self-issued | Arbitrum | Plans own L2 chain |
| Bybit/Kraken | Third-party integration | Solana | DeFi compatible tokens |
| Backed Finance | Compliance provider | Multi-chain | SEC-registered offerings |
Key differences:
- Robinhood holds underlying assets and plans 24/7 trading expansion
- Bybit/Kraken focus on trading access (excluding US users)
- All tokens confer economic rights like dividends
Why Tokenized Stocks Matter
- Market Accessibility: Enables global investors to trade US stocks anytime
- Cost Efficiency: Reduces settlement times and intermediary fees
- DeFi Integration: Allows collateralization in lending protocols
- Stablecoin Synergy: Creates new use cases for on-chain dollar equivalents
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Regulatory Progress and Market Potential
With clearer RWA (Real World Asset) frameworks emerging:
- Coinbase seeks SEC approval for US tokenized stock trading
- SEC's Hester Peirce advocates "sandbox" testing for tokenization
- Trump's crypto-friendly policies may accelerate adoption
Projected Growth:
- Current tokenized stock market: $388M (<0.003% of global equities)
- McKinsey's 2030 forecast: $2T blockchain asset market
Challenges Ahead
- Regulatory Uncertainty: Most services launch outside US jurisdiction
- Market Liquidity: Need institutional participation to scale
- Investor Education: Overcoming traditional market inertia
FAQ: Tokenized Stock Trading
Q: Are tokenized stocks legally equivalent to traditional shares?
A: Yes, when 1:1 backed by real shares and issued through compliant platforms.
Q: Can US investors currently access these services?
A: Most platforms exclude US users pending clearer regulations.
Q: How do trading hours compare to traditional markets?
A: Tokenized stocks trade continuously, unlike exchange-limited hours.
Q: What risks should investors consider?
A: Platform solvency, regulatory changes, and liquidity risks exist.
Q: Will tokenization replace traditional stock exchanges?
A: Unlikely—it's complementary, offering new access points and efficiencies.
Q: How are dividends handled with tokenized stocks?
A: Issuers distribute dividends proportionally to token holders.
The convergence of traditional finance and blockchain technology through stock tokenization marks a transformative moment. While challenges persist, the potential for global, efficient, and inclusive markets makes this innovation impossible to ignore.