Below are guest posts and opinions from Jamie Elcarre: Bitet’s CMO
In Hong Kong, investors buy one slice of Tesla directly from their independent wallet hours before the New York opening. There is no broker, forex spread, or trading window. Thanks to tokenized US stocks and ETFs offered through Ondo Global Markets and integrated into wallets like Bitget, Wall Street is quietly becoming a chain market 24/7.
Within a few years, wallets rather than brokers will become the default portal of US stocks for non-US investors.
From synthesis failures to actual backing
Real World Assets (RWAS) – Tokenization of Scientificity, Funds and Bonds, digitally represented on blockchain, has been debated for over a decade. Early attempts included a synthetic model in which tokens track stock prices via Oracle but did not award ownership (such as Synthetix and Mirror), CFDs (contracts) in which brokers issued exposure contracts, and fully endorsed tokenized securities.
But fully supported securities are where progress is accelerated. Galaxy Digital became the first US registered company to tokenize its own common stock in August 2025 using Superstate and Solana. Nasdaq has submitted a proposal to the SEC to enable trading of tokenized securities in the main market by 2026. Kraken launched “Xstocks” and offered iconic Apple, Tesla, Nvidia, and over 50 years old. Robinhood has entered Europe with over 200 tokenized US stocks and ETFs, but the token is a contract rather than a stock, causing concern for the issuer.
Stablecoin precedent
Stablecoins showed how quickly traditional assets can migrate in chains. By exporting US dollars to blockchain, Stablecoins grew into a market of over $160 billion, becoming a crypto reserve currency, promoting remittances, payments and lending.
Similarities to stocks are clear. Just as Stablecoins expanded dollar liquidity around the world, tokenized stocks could expand the scope of Wall Street. Users can not only hold dollars in their wallets, but also instantly hold fractional shares of Apple, Tesla or Nasdaq Index. It is priced at a 24/7 trading price outside of US trading hours.
The RWA market already reflects this trend, with tokenized Treasury and cash equivalents exceeding $7.4 billion, and total RWA supply exceeding $25 billion in 2025, from just $100 million five years ago.
Wallets as a financial gateway
For decades, access to the US market required brokers, bank accounts, jurisdiction and other intermediaries. Today, the entry point is a crypto wallet.
Wallets have evolved into financial gateways, combining payments, savings and investments. Workers in Lagos or Manila can allocate remaining funds to tokenized S&P 500 shares, all within the same app, and pay the bill.
Bitget Wallet’s integration with Ondo Finance is an example. Users have access to over 100 tokenized US stocks and ETFs, and can be resolved on-chain. UX reflects the leap from traditional banking in Africa and Asia with mobile money. Wallets have now been able to jump over brokers and provide low barrier access to the capital market.
Liquidity, regulations, and remaining obstacles
Liquidity has long been a breakpoint for tokenized assets. Early experiments did not fail due to lack of interest rather than shallow trading depth. The new model is trying to solve this by linking on-chain tokens directly to traditional market liquidity. Whether that scale remains uncertain.
Regulations have not been resolved in the same way. Access today is primarily limited to non-US users, and in many cases requires KYC or eligibility checks. Investors need to see how dividends, splits and voting rights are processed, and which custodians protect the underlying stock.
Tokenized assets still face structural frictions such as centralisation of custody, whitelisting requirements, valuation opacity, and limited decentralized venues. Tokenized stocks total today’s market capitalization of $420 million, just a portion of the broader $28 billion RWA market, reflecting how early the sector remains.
Three takeouts
The transformation is summarized into three important shifts.
Tokenized stocks have constant access to Wall Street, extending traditional markets into a 24/7 trading environment.
We are witnessing the rise of wallet-first investment. There, wallets have evolved into a default gateway that seamlessly combines payments, savings and stock investments across a single interface.
Compliance determines the scale. The speed of adoption ultimately depends on how quickly the regulator reveals eligibility requirements, management standards, and the voting rights of tokenized securities.
Next financial class
Finance is heading towards a faster, borderless model. Stablecoins proved that in dollars. Tokenized securities are currently being tested on stocks.
Endgame can be simple. Salaries arrive as stablecoins, some autoswap into tokenized S&P 500 indexes, all reside in wallets, stocks and cryptos that reside in the same digital environment.
Wall Street won’t go away, but the clock has been reset. The opening bell has replaced the 24/7 on-chain economy.
