📚 Tokenised stocks are blockchain-based representations of publicly traded equities and are now the fourth-largest RWA category by market cap.
While discussions as a new way to access stocks, the deeper opportunity lies in asset composability. As programmable assets, tokenised equities can support on-chain settlement, collateralisation, liquidity, and other financial applications.
Ultimately, tokenisation may change how ownership is recorded, but the future of tokenised stocks will depend on whether on-chain records can be recognised by law, markets, and institutions.
💡 Tokenised Stocks: Technology Changes, Power Remains
In his latest
@FTChinese column, HashKey Senior Researcher Tim Sun
@TiezhuCrypto notes that the convenience of tokenised stocks is often overestimated, while the composability of assets is underestimated. The real opportunity is not just trading, but turning stocks into building blocks for on-chain finance.
The real question is: when on-chain records and legal ownership diverge, who decides?
Read more 👇
ftchinese.com/story/00110991…