股票上链：华尔街30年最大变革与BitGet股票2.0

The stock market is moving onchain. Everywhere you look, real world assets or RWAs are being tokenized and turned into 24/7 assets that can be traded using crypto rails. Be that treasuries, commodities, private credit, real estate, or whatever else. But of all the RWAs out there, the most practical thing to tokenize by far is stocks. And it's the stock market's biggest shift in 30 years since it moved to electronic trading in the 1990s.

But why is this such a big deal? Well, tokenized stocks have several advantages over their traditional counterparts. Mainly that they improve access and efficiency. Traditionally, stocks could only be traded during exchange hours with the market only open for a limited window throughout the day and being closed on weekends and holidays. Tokenized stocks, however, sit on the blockchain, and the blockchain runs continuously, 24 hours a day, 365 days a year.

For investors living in different time zones, this makes the market far more flexible. And it also means they're more transparent than traditional stocks because supply, holders, and transfers can all be tracked on a blockchain explorer. Meanwhile, another benefit is with settlement times. With traditional stocks, it can take a few days for legal ownership to be settled after a trade is executed. Tokenized stocks though can settle near instantly on chain as soon as a transaction is confirmed with everything handled automatically with smart contracts.

Not only that, but you'll usually pay lower fees with tokenized stocks, too. Legacy stock market infrastructure involves multiple intermediaries, each one adding operational costs. Onchain tokenized trading removes all this by automating settlement through smart contracts. Tokenized stocks also enable fractional ownership where investors can buy smaller chunks of higher price stocks, thereby lowering the barrier to entry.

But it doesn't stop there. On top of that, investors can use DeFi platforms to post stock tokens as collateral in lending protocols, trade them on dexes, or use them in onchain yield strategies. So, as you can see, then stock tokens are a pretty big deal. But where can you actually trade them? Well, one of the best platforms for tokenized stocks is BitGet. If you watched our video about accessing the whole of crypto and TRDFI under one account, you'll know that BitGet has created the world's largest universal exchange or UEEX, giving you access to crypto and trades has three main pillars.

CFDs, that is contracts for difference, stock perk tokens. Now, CFDs allow you to make bets on the difference in an asset's price from the moment you open a position to when you close it. Stock pers are a type of derivative that let you trade the price of a stock with leverage without actually owning that stock, while stock tokens are closer to trading the underlying stock itself. And by the way, you can learn more about the UEEX and the range of TRDFI products it has in our dedicated video right over here.

Now, June was a pretty big month for BitGet, especially when it comes to the products that it has on offer on its universal exchange. That's when BitGet unveiled its stock 2.0 model, which takes tokenized stocks to a whole new level. The Stock 2.0 ecosystem has two headline products, Stock Plus and R tokens. But what exactly are these products and how do they work? Well, let's start with Stock Plus. This product works a little differently to other tokenized stock models because it allows you to invest directly into a company's stock using the funds you have in your UEEX account.

Just fund your account like you normally would with any crypto account. Convert those assets into USDC and you're ready to go. And yes, you did hear that correctly. You're investing in that stock directly, not just a synthetic version or a derivative. In other words, the stock plus model gives you something that's hard to find in the tokenized RWA space, and that is true ownership of the underlying shares themselves.

This means you're eligible for cash dividends and stock split adjustments. So, if you own two shares priced at $600 each and the company performs a three for one split, your holdings become six shares priced at $200 each. BitGet handles everything automatically while your positions stay the same, which is very convenient. What's even more convenient though is that Stock Plus also allows you to transfer stocks from participating brokers onto BitGet, allowing you to consolidate all your equity holdings into one unified platform.

Now, the other headline product under the stocks 2.0 model is R tokens, which are tokenized US stocks issued by the Reality Protocol. More on that later. Now, where Stock Plus gives investors direct access to stocks, our tokens gives users a way to gain exposure to more than 500 stocks and ETFs by using USDT, meaning you can trade equities without ever having to leave BitGet's crypto platform. Unlike Stock Plus, our tokens don't provide direct ownership to the underlying assets they represent.

Instead, they essentially track the price performance of that stock or ETF. What our tokens do offer, though, is compatibility with crypto's defy use cases. So, you could buy R NVDA tokens to get tokenized exposure to Nvidia stock and then use those R tokens in borrowing and lending protocols, futures, grid trading, and yield farming strategies. This opens the door to some serious money-making opportunities that you simply can't find with the traditional stock market.

Even though R tokens don't provide true ownership of the underlying stock, however, you'll still be able to receive dividend payouts. And because each R token is fully backed onetoone with real shares, those stocks spplit functionalities I mentioned earlier apply here, too. And what's really great is that you can do all of this in BitGeex. You don't need to juggle your crypto account and a separate brokerage account to implement whatever trading strategy springs to mind.

Just one account that can handle everything. Now, with all this talk of BitGet's stock 2.0 model, you're probably wondering why a second version was even necessary. After all, tokenized stocks haven't been around that long with the first implementation being rolled out in late 2020. Well, even though they're a fairly recent development, there are a few areas where stock tokens fall short. Beforehand, tokenized stocks offered no true shareholder rights.

Most retail tokenized stocks are synthetic or custodial rappers. This means the token tracks the price of a share, but true ownership stays with the custodian, not the token holder. There's also regulatory and legal uncertainty with many stock tokens. Basically, they sit in a gray area across certain jurisdictions where securities laws and investor protections aren't applied very consistently. The biggest problem with tokenized stocks, though, is that they have surprisingly low liquidity.

Even though tokenized stocks have presented one of the biggest market opportunities in recent years, many suffer with thin secondary markets and concentrated ownership. This often creates wide spreads where trades are harder to execute and are often executed at a different price to what you'd expect. And because tokenized stocks have historically relied on cross-chain bridges, gas fees, and multiple wallets, they've added extra layers of friction, complexity, and cost.

So, this has all made it much harder for tokenized stocks to gain the traction they need, especially when none of those issues exist with a traditional brokerage account. With the stock 2.0 model though, BitGet aims to make three major improvements around liquidity, transparency, and capital efficiency. That's because stock 2.0 is designed to integrate with real equity market liquidity through global platforms. So, this means deeper order books with tighter spreads, faster trade execution, and an easier experience all round.

And because the UEEX allows you to handle every