NYSE stock tokenization long and short perspectives summary: bringing weekend price discovery, can DeFi aggregation be the ultimate key

On January 20, the New York Stock Exchange announced last night that it is developing a tokenized trading and settlement platform for US stocks, featuring multi-chain settlement and custody as well as 24/7 trading capabilities. This news has sparked widespread discussion in the crypto community, with some opinions summarized as follows: Carlos Domingo, CEO of Securitize, a RWA tokenization platform under BlackRock, stated that the upcoming native tokenized stock on NYSE’s blockchain, without wrappers, derivatives, or tokenized equity, is an unprecedented positive development for the crypto market. Shaun Da Devens, analyst at Blockworks Research, said that the 24/7 tokenized trading proposed by the NYSE is actually beneficial for stock traders, with the biggest advantage being weekend price discovery. CZ, founder of CEX, said this morning, “This is good news for cryptocurrencies and crypto trading platforms.” Mike Dudas, founder of The Block, reposted the NYSE announcement and expressed optimism and attention. Dan Smith, head of data at Blockworks, noted that the most useful point in the NYSE announcement is the indication that trading will be executed off-chain while settlement will occur on-chain, similar to Polymarket’s order book model. Dan Smith believes that multi-chain custody will be adopted in the future. Salman Banaei, chief legal officer of Plume Network, stated that unlike the tokenization project with DTCC (Depository Trust & Clearing Corporation), NYSE is incorporating “native issuance of digital securities tokens” into its roadmap, which is very important. NYSE’s move brings new cooperation and growth opportunities to the on-chain ecosystem. Moving forward, attention should be paid to how DeFi will integrate into NYSE’s plans. Beyond simple asset tokenization, true DeFi trading integration is the ultimate disruptive factor. Well-known KOL Moritz expressed a negative view, stating that this will be a “fatal blow” to all DEXs involving equity trading, and there is currently no reason to trade stock options on Hyperliquid or other platforms, with the sole purpose being to farm airdrops. The idea of 24/7 service was once mainstream but is now outdated. Renowned KOL REX said that the NYSE’s entry will completely destroy or marginalize native crypto blockchains, with resources, users, and innovation being taken over by traditional institutions, leading to the decline of the crypto ecosystem.