CITIC Securities: The explosive growth of tokenization in the US stock market is expected to accelerate the demand for IT transformation among brokerages
ChainCatcher news, CITIC Securities research report points out that the tokenization of U.S. stocks has concentratedly exploded, with Bybit, Robinhood, and Kraken announcing the launch of U.S. stock tokenization services on the same day; XBIT, in collaboration with xStocks, is expected to disrupt the industry model with its "buy tokens directly for U.S. stocks" model that does not require KYC, intensifying competition in the virtual asset trading service market.Hong Kong is striving to build a global digital asset innovation center, with financial institutions in Hong Kong actively laying out virtual asset trading service businesses. More than 41 brokerages have completed the upgrade to license type 1. As an incremental business, virtual asset trading services are expected to be gradually deployed by brokerages in Hong Kong, potentially bringing over 10 billion in IT transformation demand. Meanwhile, U.S. stock tokenization, as a pioneer of RWA, provides key references and driving forces for the continuous deepening and implementation of the entire RWA ecosystem through its explorations and practices in compliance regulation, market expansion, and infrastructure construction.