“24-Hour Apple·Tesla Trading”…On-chain Stocks, Shaking The Capital Market Landscape

The boundary between cryptocurrency and traditional finance is rapidly collapsing. Major cryptocurrency exchanges are opening a new chapter in the global liquidity market by creating tokens that can trade traditional stocks like Apple and Tesla on the blockchain 24 hours a day.

Coinbase, Gemini, Robinhood, Kraken, etc., are launching platforms for trading 'tokenized stocks', called on-chain stocks, one after another. This is a method of issuing tokens linked 1:1 with physical stocks and distributing them on the blockchain. It allows for real-time settlement and trading on weekends, completely overcoming the time constraints of existing stock markets.

Currently, Robinhood is providing over 200 types of U.S. stocks and ETFs to European investors in token form. It includes not only Apple, Microsoft, NVIDIA but also private companies like SpaceX. There is no additional trading fee besides foreign exchange fees, and the construction of a Layer 2 chain that enables 24/7 trading is also announced for the future.

Kraken supports more than 60 types of stocks through its Solana-based platform, and BactFinance actually purchases physical stocks and issues tokens based on them. Gemini is expanding from Strategy (MSTR) to ETFs, etc. All of these require KYC (Know Your Customer) verification, and anonymous trading like Terra's Mirror Protocol in the past is not allowed.

The biggest advantage of on-chain stocks is their borderless accessibility. As long as you have stablecoins, you can trade U.S. stocks in real-time even in countries like Nigeria or Vietnam. At the same time, when the liquidity in the cryptocurrency market dries up, the stock-based demand circulates through the blockchain network, which holds significant meaning as it supports the cryptocurrency ecosystem.

However, the limitations are also clear. Investors cannot exercise voting rights on physical stocks, and regulatory uncertainty remains. The U.S. SEC is closely monitoring this field, and there is a risk that services may be suspended depending on legal judgments. The liquidity is still low, which may result in delays in trade settlement or the inability to sell at the desired time.

Nevertheless, the market trend is clear. Analysis suggests that the trading structure is changing, not the assets themselves. As the era of trading stocks like coins through the blockchain becomes a reality, the essence of finance is quietly being reorganized.