The tech giants have made their move! Apple and Meta have JUST REJECTED OKX and ICE's plan to tokenize U.S. stocks. This is a major blow from all the 'Magnificent Seven', reaffirming their position.
And it's not just them: a total of 67 companies, representing as much as 90% of the initial options, have said NO. The ambition to trade U.S. stocks 24/7 on the blockchain via XLayer is hitting a steel wall.
This shows just how strong the resistance from TradFi is as crypto tries to break in. The dream of deeply integrating tokenized assets into traditional financial markets has just taken a heavy punch.
Now, OKX-ICE may be forced to return to projects focused solely on companies that are already 'crypto-friendly', such as MicroStrategy and Coinbase. Clearly, the road to expansion remains challenging.
The barrier between TradFi and crypto still stands tall, challenging every effort to bridge the gap.
So, where is the future of tokenizing traditional assets headed?
#Crypto #TokenizedStocks
And it's not just them: a total of 67 companies, representing as much as 90% of the initial options, have said NO. The ambition to trade U.S. stocks 24/7 on the blockchain via XLayer is hitting a steel wall.
This shows just how strong the resistance from TradFi is as crypto tries to break in. The dream of deeply integrating tokenized assets into traditional financial markets has just taken a heavy punch.
Now, OKX-ICE may be forced to return to projects focused solely on companies that are already 'crypto-friendly', such as MicroStrategy and Coinbase. Clearly, the road to expansion remains challenging.
The barrier between TradFi and crypto still stands tall, challenging every effort to bridge the gap.
So, where is the future of tokenizing traditional assets headed?
#Crypto #TokenizedStocks