Therefore, the Crypto Native team doesn't need to waste time on creating a tokenized trading platform for US stocks. The scale effect, liquidity, and goodwill of traditional giant securities brokers like Robinhood and Futu NiuNiu will quickly form barriers in this new incremental market space, and the cash flow income generated by the tail-end market demand won't cover the marginal cost of building a new system.
Instead, by utilizing the existing RWA and stablecoin infrastructure in Crypto (such as @OndoFinance @SkyEcosystem @aave @CurveFinance @Perena__ @humafinance @pendle_fi @RateX_Dex, etc.), after tokenizing US stocks and introducing them to the asset side of stablecoins, it will enhance the robustness and yield of the asset side while accelerating the third growth curve of the liability side (stablecoin tokens), and the vision of achieving a stablecoin scale of 1 trillion by the end of 2026 will be realized the fastest.
When we look back at history, if 2023 is the year of L2, 2024 is the MeMe super cycle, then 2025 will be the stablecoin super cycle.
Today, SEC Chairman Paul Atkins made it very clear: he supports the transition from traditional finance to crypto finance.
This means that in the future, finance, including securities databases, will have the opportunity to migrate from off-chain to on-chain. "Just as audio recordings have transitioned from analog vinyl records to tapes, and now to today's digital software, fundamentally changing the music industry, the migration of on-chain securities could also reshape every aspect of the securities market. This can be achieved through issuance, trading, holding, and usage." The SEC will be committed to "establishing practical standards for market participants through rulemaking, interpretation, and exemptions."
What does this mean? As mentioned a few days ago, crypto stablecoins will experience their biggest boom period, and RWA (especially U.S. Treasury bonds and stocks) will truly have their moment to go on-chain. In this process, how Ethereum will handle the accounting of assets worth tens of trillions of dollars will be the biggest narrative of this cycle, aside from crypto AI.
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