China Securities: Tokenization of US Stocks is Exploding, Demand for Brokerage IT Transformation is Expected to Accelerate

China Securities & Co., Ltd. pointed out in a research report that the tokenization of U.S. stocks has exploded, with Bybit, Robinhood, and Kraken announcing the launch of U.S. stock tokenization services on the same day. XBIT, in conjunction with xStocks, has launched a "buy crypto directly to U.S. stocks" model that does not require KYC, which is expected to subvert the industry model and intensify competition in the virtual asset trading services market. Hong Kong is striving to build a global digital asset innovation center, and financial institutions in Hong Kong are actively deploying virtual asset trading services, with more than 41 securities firms having completed the upgrade of License No. 1. As an incremental business, virtual asset trading services may be gradually deployed by securities firms in Hong Kong, which is expected to bring more than 10 billion in IT transformation demand. At the same time, as the vanguard of RWA, the tokenization of U.S. stocks provides a key reference and impetus for the continuous deepening and implementation of the entire RWA ecosystem in terms of compliance supervision, market expansion, and infrastructure construction. (Zhitong Finance) [Odaily Planet Daily]