Before the Frost's Descent had even ended and amidst the turbulent market, a thunderous statement, "Everything can be on the blockchain," resounded from Coinbase.

At the end of October, Coinbase, the industry leader, released a better-than-expected third-quarter financial report, but shocked the industry with a declaration of "tokenization of US stocks," aiming to enable every trader in the world to navigate the US stock market with just a crypto wallet.

Following the earnings call, Coinbase's CEO declared, "All assets will eventually be on-chain," signaling that stock tokenization will usher in the biggest singularity between traditional finance and the on-chain world.

The digital finance landscape has ushered in the most magnificent new era for RWA. What was once a testing ground for many in the crypto world has now seen Wall Street's gates partially opened. Amidst this surging tide, new capital factions are emerging, transforming the US stock market's tokenization sector from obscurity to a landscape teeming with players. This chaotic competition for supremacy is an unstoppable force, reshaping the landscape and inspiring a new generation of heroes.

This rise of the encrypted martial arts world has given rise to five major sects, respectfully known as the "Five Great Masters of the Ages." These five platforms, each possessing unique skills and leading the way, are vying for a new place in the martial arts world.

What are the "five key features" of tokenization in the US stock market?

Tokenization of US Stocks: Five Unique Techniques of Our Time

East Evil Kraken

With rigorous regulations and strong compliance, it operates under Swiss/EU custody, transparent auditing, and shares directly held in the stock market, offering both dividends and market making. Highly favored by institutional investors, it allows for free global trading, except for US users who await policy easing.

Robinhood, the Western Poison

Legitimate brokerage firm, proprietary trading and custody, direct blockchain connection to US stocks, with dividends credited simultaneously. Launching first in the European market, compliant and compliant, offering innovative on-chain experiences, and just beginning its globalization journey.

Ondo

Innovation is at its core; RWA is now a fund on the blockchain, encompassing ETFs, US Treasury bonds, and diverse assets, with automatic dividend distribution. Double regulatory oversight ensures its success, and it partners with Coinbase to strategically position itself within the RWA ecosystem.

Northern Beggar MSX

Grassroots breakthrough, openness as its foundation, order flow directly connected to brokerages, trading available before, during and after market hours, 200+ US stocks available for one-click purchase, direct top-up to multi-chain wallets, and a strong global user experience.

Coinbase

By destiny's mandate, leading the industry, bringing everything to the blockchain, unparalleled in compliance and scale, uniting countless heroes. Advocating a new era of finance, its leadership is unmatched.

Now, these "five unparalleled masters" are competing on the same stage, restraining and complementing each other, truly unlocking the last latch of the high wall of the US stock market for global investors. From now on, dividends, voting rights, and asset transparency can all be synchronized on the blockchain, allowing both rogues and established players to participate. Fragmented holding, 24/7 trading, and free cross-border transactions are all part of the new order.

Five powerful forces unite to create a new world of capital freedom.

The clash of these five giants is more like five arenas in the new financial arena. Kraken prioritizes compliance, Robinhood focuses on efficiency, Ondo emphasizes innovation, MSX is the most open, while Coinbase is consolidating its dominance, unifying the various factions. The landscape is being reshaped, with platform leaders vying for supremacy, and the tide has surged to new heights.

The battle for capital is no longer a closed-door affair. Whoever can master the essentials of scale, liquidity, technology, and compliance will dominate the new financial landscape.

Coinbase's earnings report is the opening salvo in a new era for the financial world. Who will rise to the top? We shall wait and see.