令牌化设置为从根本上改变全球资本市场

主要财务参与者的最新动作助长了这一趋势。 Coinbase Coin和Kraken等加密交流正在扩展到传统资产类别

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.

根据伯恩斯坦分析师的周一报告，令牌化将通过模糊股票和加密代币之间的界限来从根本上改变全球资本市场。

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

伯恩斯坦的研究人员认为，随着令牌化的增长，传统的股票将被作为基于区块链的资产发行并交易，从而创建混合金融景观。

"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.

伯恩斯坦分析师在发送给本辛加的一份注释中写道：“令牌化将模糊加密代币与股票之间的差距，因为传统的股权资产在区块链上被标记了。”

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

主要财务参与者的最新动作助长了这一趋势。

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等加密交流正在扩展到传统的资产类别，而Robinhood（Nasdaq：Hood）等经纪交易商正在将更多的加密产品嵌入其产品中。

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

伯恩斯坦说，这种融合“通向更整合的一站式商店多资产投资平台”。

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）强调了数字资产证券作为关键催化剂的越来越多的法规清晰度，预计2025年数字资产市场结构法案的通过。

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.

分析师说，这将使平台能够无缝提供令牌股票和加密货币。该票据补充说：“随着SEC和CFTC的变化友好，我们希望美国在岸上加密货币的机会扩大。”

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

伯恩斯坦还强调，令牌化可以推动效率和新的流动性库。

"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."

“我们看到了一个世界，加密交易所将提供现货加密货币，加密衍生品和令牌股票，而经纪人平台也将扩大其加密服务。”

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

这种推动的趋势强调了数字和传统金融如何相互交叉的更大转变，从而重塑了投资者在全球范围内如何访问和交易资产。

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