Wow, I'm a bit excited. I bought $50 worth of Apple stock in a DEFI protocol.
Although I still don't know exactly what method @xStocksFi is using for "stock tokenization," I can now buy US stocks on @JupiterExchange and @RaydiumProtocol.
I think this is a significant leap for stock on-chain, meaning stocks can also be priced using AMM and can engage in Loop and Yield Swap. These financial derivatives would be very complex and lengthy if done through traditional finance, as they require quite cumbersome back-end support.
When stock assets can flow smoothly on-chain like tokens, I believe the simplicity and elegance of DEFI can be more intuitively demonstrated.
To put it simply, the core function of blockchain in finance is encapsulated in six words: "payment is settlement." This cannot be achieved in any traditional financial network with scale effects.
Once "payment is settlement" is realized, even if US stocks cannot be traded 24/7, tokenized US stocks can. The core of trading is not in the infrastructure but in the matching of liquidity. Under the conditions of payment being settlement, OTC can also have capabilities comparable to exchange counters.
Impressive.

The best assets should be accessible to everyone, everywhere.
@XStocksFi will be available via @krakenfx, @Bybit_Official, @byreal_io, @kaminofinance, @RaydiumProtocol, and @JupiterExchange.
More on the news from the @BackedFi team:
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