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NYSE enters tokenized trading: the end of DeFi or a new opportunity?
【BlockBeats】The New York Stock Exchange announced on January 20th that it is developing a native tokenized stock on-chain trading and settlement platform, supporting multi-chain settlement and 24/7 around-the-clock trading. This news has sparked heated discussions in the crypto community, with mixed opinions.
Carlos, CEO of Securitize, a RWA platform under BlackRock, stated that the NYSE’s launch of native tokenized stock on-chain trading is an unprecedented positive development—no wrappers, no derivatives, no intermediate steps of tokenized rights, which has profound implications for the entire crypto market.
Analysts pointed out that the core advantage of 7×24-hour tokenized trading lies in weekend price discovery, which is a substantial benefit for traditional stock traders. A founder of a major exchange expressed optimism about this move earlier today, believing it sends a positive signal to the crypto ecosystem.
On the technical level, industry insiders revealed that the NYSE’s design logic is to execute trades off-chain and settle on-chain. This architecture is similar to existing order book models, and adopting multi-chain custody is likely the trend in the future.
The deeper significance is—unlike tokenization projects with traditional custodial clearing institutions, the NYSE aims to incorporate “native issuance of digital securities” into its roadmap. This opens new collaboration opportunities for on-chain ecosystems. But the real disruption is not just asset tokenization itself, but whether DeFi trading can truly integrate into traditional financial infrastructure.
However, some voices remain cautious. A well-known industry practitioner believes this could be a fatal blow to existing equity trading DEXs—since there is now an official 7×24 platform, there is no reason to trade stocks and options elsewhere. Others are more pessimistic, thinking that NYSE’s involvement will accelerate the concentration of resources, users, and innovation into traditional institutions, potentially marginalizing the domestic crypto ecosystem.
Opportunities and threats coexist; the key still depends on whether DeFi can keep pace with this wave of traditional finance going on-chain.