Qinbafrank posted on X about the evolving landscape of stock tokenization as major exchanges like Nasdaq and NYSE enter the market. The prediction made in August last year regarding these exchanges potentially moving stocks from off-chain to on-chain has largely been validated. These exchanges, along with DTCC, are expected to facilitate the supply of stock tokens directly, eliminating the need for on-chain trading platforms to mint their own tokens. Instead, platforms can integrate these official tokens, transforming into 'new-type on-chain brokerages.'
The future competition for on-chain brokerages lies in the user-facing front end, as differentiation in the back end or supply side becomes less pronounced. Key competitive points include entering new markets, innovating user experience, and offering favorable rates. Brokerages may also provide users with various leverage models and innovate asset types and trading methods based on U.S. stock tokens, such as perpetual contracts, options, binary options, and collateralized lending, among other DeFi strategies. More innovative trading methods are likely to emerge in the future.
Additionally, there will be significant competition in terms of traffic and user engagement, where strategies from internet brokerages can be adapted. Ultimately, the goal is to become a 'super app,' offering a comprehensive platform for trading stocks, bonds, crypto assets, precious metals, agricultural products, commodities, and forex.