Binance's favored child has heard enough; have you ever seen Binance's favored grandchild?
After a few days of not scrolling through Twitter, I found that Binance's layout in the prediction market has already been thoroughly analyzed by KOLs. My further discussion would merely be gilding the lily.
However, there is another track, with greater potential yet little attention; let's talk about it today.
Binance, or YZi Labs, can be summarized for its investments in the RWA track as follows:
- StableStock focuses on the tokenization of US stocks / ETFs.
- Plume / Canton covers a broader range of assets including government bonds and bills.
- Usual / Ethena focuses on USD stablecoins and synthetic dollars.
Among them, the star entrepreneur Zixi's StableStock is the most highly anticipated and has already formed a mature project with a commercial closed loop.
Considering that YZi Labs has only invested in this one project in the RWA stock track, calling it Binance's favored child is not an exaggeration.
Interestingly, StableStock recently announced its only external investment in HabitTrade.
HabitTrade is an Australian brokerage firm focused on bilateral financial integration, deeply engaged in real US stock trading, clearing, and compliance systems for a long time.
StableStock's bet on HabitTrade sends a very clear signal: financial assets on-chain must return to the real financial system itself.
From a legitimacy perspective, this is Binance's favored grandchild.
But what I really want to talk about today is not HabitTrade itself, but Stove Protocol.
This is the protocol layer infrastructure that HabitTrade actively split and open-sourced during its process of promoting the on-chain and standardization of stock assets. It is also a concentrated release of its years of real financial system capabilities on-chain.
A brief introduction to the special aspects of Stove Protocol:
- Stove Protocol is an open-source, zero-protocol fee stock tokenization infrastructure initiated by HabitTrade.
- It does not create synthetic assets but performs a 1:1 on-chain mapping of US stocks and ETFs, meaning that holders enjoy real economic rights, such as dividends and distributions, allowing on-chain funds to seamlessly allocate to high-dividend assets.
- The most crucial point is that Stove does not participate in pricing and does not charge tolls. It currently supports over 2000 assets, and any Builder can directly construct their products based on it, with no capital threshold.
The essence of stock on-chain should not be about recreating assets, but about integration.
StableStock is betting on the underlying standards for future asset on-chain, and this is the precondition for asset on-chain to scale.
