A major development worth noting— the U.S. Securities and Exchange Commission (SEC) has officially approved the compliant implementation of on-chain tokenized stocks and bonds. This is not a trivial matter; it marks a significant milestone as traditional financial assets worth hundreds of trillions of dollars, including equities and debt assets, officially begin migrating to blockchain.

What does this mean? In simple terms, there are three levels of change:

First, a significant reduction in trading costs. The traditional stock and bond trading process involves cumbersome settlement procedures and numerous intermediaries. After tokenization, these friction costs are greatly reduced, directly increasing the efficiency of asset transfers. Second, institutional investors are no longer limited to relying solely on traditional financial infrastructure; they can now directly execute capital flows through on-chain channels. This greatly increases their flexibility. Finally, the positioning of the crypto ecosystem is undergoing a fundamental shift—it is no longer just a stage for native digital assets but has become the core infrastructure for hosting real-world financial assets.

This is not just theoretical innovation; it is a tangible structural transformation. Once hundreds of trillions of dollars in liquidity begin to flow continuously into the crypto market, the reshaping of the financial landscape will become an inevitable reality.