令牌化設置為從根本上改變全球資本市場

主要財務參與者的最新動作助長了這一趨勢。 Coinbase Coin和Kraken等加密交流正在擴展到傳統資產類別

Tokenization is set to fundamentally shift global capital markets by blurring the lines between equities and crypto tokens, according to a Monday report from Bernstein analysts.

根據伯恩斯坦分析師的周一報告，令牌化將通過模糊股票和加密代幣之間的界限來從根本上改變全球資本市場。

Bernstein's researchers suggest that as tokenization grows, conventional equities will be issued and traded as blockchain-based assets, creating a hybrid financial landscape.

伯恩斯坦的研究人員認為，隨著令牌化的增長，傳統的股票將被作為基於區塊鏈的資產發行並交易，從而創建混合金融景觀。

"Tokenization will blur the gap between crypto tokens and equities, as traditional equity assets are tokenized on the blockchain," Bernstein analysts wrote in a note sent to Benzinga.

伯恩斯坦分析師在發送給本辛加的一份註釋中寫道：“令牌化將模糊加密代幣與股票之間的差距，因為傳統的股權資產在區塊鏈上被標記了。”

This trend is being fueled by recent moves from major financial players.

主要財務參與者的最新動作助長了這一趨勢。

Crypto exchanges such as Coinbase (NASDAQ:COIN) and Kraken are expanding into traditional asset classes, while broker-dealers like Robinhood (NASDAQ:HOOD) are embedding more crypto products into their offerings.

Coinbase（Nasdaq：Coin）和Kraken等加密交流正在擴展到傳統的資產類別，而Robinhood（Nasdaq：Hood）等經紀交易商正在將更多的加密產品嵌入其產品中。

This convergence is "leading towards more integrated one-stop shop multi-asset investment platforms," Bernstein said.

伯恩斯坦說，這種融合“通向更整合的一站式商店多資產投資平台”。

Bernstein highlighted the growing regulatory clarity around digital asset securities as a key catalyst, anticipating the passage of a digital assets market structure bill in 2025.

伯恩斯坦（Bernstein）強調了數字資產證券作為關鍵催化劑的越來越多的法規清晰度，預計2025年數字資產市場結構法案的通過。

This, analysts say, will enable platforms to seamlessly offer both tokenized equities and cryptocurrencies. "With the SEC and CFTC turning crypto friendly, we expect the U.S. onshore crypto opportunity to expand," the note added.

分析師說，這將使平台能夠無縫提供令牌股票和加密貨幣。該票據補充說：“隨著SEC和CFTC的變化友好，我們希望美國在岸上加密貨幣的機會擴大。”

Bernstein also emphasized that tokenization could drive efficiencies and new liquidity pools.

伯恩斯坦還強調，令牌化可以推動效率和新的流動性庫。

"We see a world where crypto exchanges will offer spot crypto, crypto derivatives, and tokenized equities, while broker platforms will also scale up their crypto services."

“我們看到了一個世界，加密交易所將提供現貨加密貨幣，加密衍生品和令牌股票，而經紀人平台也將擴大其加密服務。”

This push towards tokenization underscores a broader shift in how digital and traditional finance are intersecting, reshaping how investors access and trade assets globally.

這種推動的趨勢強調了數字和傳統金融如何相互交叉的更大轉變，從而重塑了投資者在全球範圍內如何訪問和交易資產。

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