The demand for commercial actions in the chain is real.
The US variable rental product of Finance, based in Switzerland, Xstocks, has seen a cumulative negotiation volume of more than $ 300 million less than a month from the Decentralized Finance platforms (Defi) of Bybit, Kraken and Solana.
The Xstock are tokens in the 24/7 chain that represent actions in American companies that are quoted in the stock market. Each Token is completely backed 1: 1 for the corresponding underlying actions held by a license custodian, which allows investors to have exposure to traditional assets while guaranteeing transparency and security.
These tokens are issued by backed finances, which operates under the country’s regulatory framework. They are built using the Token Solana Liberty (SPL) standard to facilitate high -speed transferability and chain compatibility with web3 and decentralized applications.
“The Xstocks have crossed $ 300 million in the volume of total Ochain transaction, a testimony of the demand for tokenized shares,” Xstocks said in X, qualifying the growth “only the beginning” that could see the volumes double from here.
The greatest demand for tokenized actions is part of the broader macro trend of accelerating convergence between traditional markets and decentralized finances. Recent giant releases such as Robinhood and Gemini, which offer tokenized American actions to European users, are evidence of this accelerated change.
Not everyone is impressed by tokenized actions
While moving the actions to the Blockchain rails and allow access to investors abroad to sound revolutionary, not all are impressed.
According to Anton Golub, Crypto Exchange Freedx Operations Director, tokenized actions are simply a wrapping and not real actions.
“You are not buying Tesla. You are buying a Token that tracks Tesla. Issued by a high seas SPV or a corridor structure that has underlying actions,” Golub said in a LinkedIn post.
Golub explained that buying tokenized shares does not provide the buyer vote rights, direct custody of the shares or real property, as is the case with the CFD of shares issued in Europe.
CFD, or difference contract, is a contract that stipulates that the buyer will pay the seller the difference between the current value of an asset and its value at the time the contract began.
The CFD of shares are fractional, which allows operators to buy and sell a fraction of the value of the underlying asset with leverage. That allows merchants to control a larger position with a smaller capital investment.
“Brokers CFD in Europe [have] It will let you exchange fractional actions of the United States for years. You can buy Tesla, Apple or S&P 500 with 5x leverage and full liquidity, “Golub said. [tokenization] It is not democratizing access. It is only rethinking CFD with the tokenization narrative. “
In addition, concerns have been raised about the liquidity that dries over the weekend. Liquidity refers to the ease of executing large purchase and sale orders at stable prices.
“There are still significant frictions with these new products,” said Parsec Finance in his newsletter earlier this month. “Cold of the cold liquidity (liquidity engenders the volume, but is based on market manufacturers that run the risk and bets in real use), the differentials will be wide and probably crazy on weekends.”
Read more: Backed Finance debuts tokenized actions in the Bybit, Kraken and Solana Defi Defi protocols
