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The latest crypto bull run is on, and nearly every facet of the global capital markets wants to get in on the act. Whether through funding Web3 startups as a venture firm or purchasing tokens from some of the most promising startups, the industry has proven to have numerous avenues of entry.

While most of the avenues seem only open to corporate organisations, there is one that could emerge as a real game changer for the retail investor, tokenised stocks.

One of the few reasons why some retail investors continue to stay out of the game is that ‘crypto is too volatile’ for them. Tokenised stocks could change that.

These stocks not only bring the stability of shares of some of the biggest brands like Apple, Tesla and Nvidia to the blockchain, but they also allow investors to trade 24 hours a day, like any other cryptocurrency. And to the risk-averse investors, that is probably the aspect they’ve been waiting for to get in on the act. But how?

There are currently two leading tokenisation protocols, blockchain-based startups, that are offering tokenised U.S. stocks. Dinari is the first U.S.-regulated platform, which is powering Gemini’s tokenised stock listings. On the other hand, Backed Finance is powering Kraken’s, Bitrue’s, and Bybit’s tokenised stock listings via a product called xStocks.

Crypto exchange platforms have been expanding their coverage of tokenised products amid the progress made towards creating a clearer framework for digital assets in the United States.

And now, traders can already trade tokenised versions of Apple through AAPLX, Nvidia (NVDAX), Tesla (TSLAX), MicroStrategy (MSTRX) and the recently listed Circle Internet Group (CRCLX), as well as the S&P 500 (SPYX) Kraken, Bybit and Bitrue.

While currently the products are only offered to users of the various platforms in non-restricted jurisdictions, these crypto exchange platforms are already emerging as early winners in the race for tokenised stock offerings.

Arjun Sethi, Kraken co-CEO, shared a bullish sentiment about the future of tokenised stocks when his company launched tokenised stocks via xStocks.

“For the first time, people all over the world can own and use a share of a tokenised stock like they would use money. You can move it, hold it, spend it or borrow against it. All from your wallet, with no intermediaries, no borders and no delays,” with Adam Levi, the co-founder of Backed Finance, echoing that statement in the same announcement, saying that the xStocks product “represents a monumental leap forward in democratising access to financial markets.”

Bitrue’s Adam O’Neill called it an opportunity to showcase “freedom of investment.”

According to O’Neill, tokenised stocks are “[breaking] down the barriers of traditional finance that often exclude smaller investors, and now [users] have a new avenue to expand their portfolio in a manner that can deliver real returns for them.”

Bitrue is offering its tokenised stocks via Bitrue Alpha, a newly launched product that lists trending tokens before they appear on the spot exchange section.

Levi thinks that tokenising stocks on the blockchain not only brings familiar assets on-chain, but also opens up the market for “a truly open, efficient, and inclusive global financial system where everyone can participate in wealth creation.”

Something that Gabriel Otte, the co-founder and CEO of Dinari, also technically agrees with. “For me, the end game is how can we elevate the entire financial system?”

On the other hand, Gemini is debuting its product in Europe, starting with MicroStrategy (MSTR), the pioneer of strategic crypto treasuries with its huge Bitcoin holdings. 

According to the company’s announcement, the new offering allows users in the European Union to buy a tokenised version of MicroStrategy and take it with them anywhere on the blockchain.

“Combining the best assets in the world with the 24/7/365 form factor of crypto is how we reimagine and rebuild the financial system. We are starting with MSTR and will be rolling out more tokenised stocks and ETFs in the coming days. Our goal is to export U.S. equities across the globe and connect the greatest companies on planet earth to the people of planet earth,” the company wrote in a blog post.

First impressions are that tokenised stocks are yet to start commanding significant transaction volume. However, Circle Internet managed to lock in over $437,000 in USDT volume over the past 24 hours on Bybit and considering it was a weekend, that’s really significant. 

Meta Platforms’ METAX is the only other tokenised stock to surpass $100,000 transaction volume on the platform over the same timeframe.

Like Kraken and Bitrue, Bybit is offering tokenised stocks via xStocks. "At Bybit, we're committed to bringing the best of both traditional and digital finance to our global community," said Emily Bao, Head of Spot at Bybit. "By listing tokenized equities and ETFs, we're not just adding new products--we're empowering our users with greater choice, deeper flexibility, and more control, all within the secure and seamless Bybit experience. xStocks was the clear choice to help us deliver this unparalleled access."

Final thoughts

Tokenised stocks are now available on the blockchain via various platforms, enabling users to avoid paying unnecessary brokerage fees, whilst also benefiting from fast trade executions and the ability to buy and sell using cryptocurrencies. This also creates more utility for the digital asset ecosystem.

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