Earlier this month, Robinhood (HOOD) expanded its tokenized stock offering beyond European users, and Coinbase (COIN) also plans to offer stock tokens. Depository Trust & Clearing Corporation (DTCC), the backbone of the US securities markets, has begun testing tokenized securities infrastructure, while Nasdaq and the New York Stock Exchange have also initiated tokenization initiatives.
The push points to a growing conviction that tokenization (the process of representing traditional assets as blockchain-based tokens) could improve capital markets with faster settlements, round-the-clock transactions, and more efficient asset movement. Citi estimated that tokenized securities could grow to be a $5.5 trillion market by 2030, including $2.6 trillion in tokenized stocks.
Until now, tokenized stock platforms have largely focused on replicating US markets on-chain, offering blockchain-based versions of popular stocks like Nvidia (NVDA), Apple (AAPL), and Tesla (TSLA). xStocks’ expansion into overseas markets gives investors access to a broader universe of companies, including high-flying Asian companies linked to the AI supply chain, which have become popular among global retail traders.
The GTN partnership marks the next stage for xStocks, which began last year with tokenized US stocks and exchange-traded funds. The platform now supports more than 500 tokenized securities, has processed more than $35 billion in trading volume, and has nearly 200,000 holders, according to Payward. The products remain unavailable to US investors.
