Whose determination is stronger? A panoramic overview of mainstream wallets' layouts in the tokenized US stock field.

Written by: Tyler

Web3 wallets are accelerating to board the tokenized US stock train.

Imagine this: when you can manage on-chain native assets like ETH and USDC within the same wallet, while also buying and selling tokens of Apple (AAPL), Tesla (TSLA), and other RWAs at any time, the role of the wallet has transcended being a Crypto entry point, evolving into a new prototype of account systems.

The catalyst driving this qualitative change is the large-scale implementation of RWAs, with tokenized US stocks being the pioneer. Mainstream wallets have intensively entered this track during the same period—some established a separate 'stocks' section, while others integrated entry through DEX protocols, and so on.

The mutual craving for quality assets and traffic entry is pushing Web3 wallets to an unprecedented strategic hub position for RWA.

The end of the old era, the new ship of RWA tokenization

What was the first US stock you held?

Whether it’s 'the seven tech sisters' like AAPL and NVDA, or emerging dark horse stocks like HOOD and OPEN, the growth certainty and return on investment in the US stock market are generally better than most high-risk altcoins, consistently attracting strong interest from investors.

But the reality is that, on one hand, the account opening process of traditional brokerages is cumbersome. Even if there exists an ideal path of 'Interactive Brokers + offshore banks', this channel is also tightening as global compliance requirements become stricter; on the other hand, high costs of deposits and withdrawals, slow fund arrival cycles, and the T+N settlement system are not friendly to most small and medium investors.

It is these deeply rooted pain points that make the tokenization of stocks the best narrative for the integration of TradFi and Web3 in 2025. Its logic is simple yet powerful: traditional stocks are mapped into digital tokens through blockchain technology, with each token backed 1:1 by real stocks, representing ownership of the underlying asset for free trading on-chain.

This not only breaks through geographical and identity restrictions but also elevates the trading experience to the 'second-level settlement' dimension on-chain, which seems more natural for crypto-native users compared to the lagging processes of traditional brokerages. Thus, when this door is opened, the giants of the entire industry sense the opportunity.

In addition to native CEX players like Kraken and Bybit, Robinhood has also announced that it will support US stock trading on the blockchain, and even NASDAQ has thrown out exploratory signals. The direction of industry giants is highly convergent, aiming to unify all asset classes such as cryptocurrencies, stocks, ETFs, and gold into a panoramic trading system.

For every user, this means an unprecedented investment experience: with just one crypto wallet and holding stablecoins, users can buy US stock assets on DEX anytime and anywhere, seamlessly connecting to the world's top capital markets.

This is both the freedom granted by RWA to users and the value of Web3 wallets as core entry points. From this perspective, the tokenization of US stocks and wallets are staging a 'conspiracy' where quality assets and traffic entries complement each other.

• For RWA, it urgently needs to leverage wallets as a natural traffic entry point and liquidity hub;

• For wallets, it similarly longs to leverage RWA quality assets to break the bottleneck of user growth and escape the single speculative attribute;

Overview of Web3 Wallet & RWA Layout

Therefore, when the possibility of RWA tokenization is validated, wallets as the core entry point to the Web3 world have already begun to seize the central seat of this feast.

Currently, besides specialized trading platforms like Mystonks that focus on tokenized US stocks, and the stock segments launched on CEX by Bybit, Bitget, etc., mainstream wallets are almost all present in the RWA track. From tokenized US stocks to tokenized gold and other assets, they are rapidly being integrated into the core service map.

This article selects four mainstream wallets widely covered in the Chinese-speaking area: OneKey, SafePal, Bitget Wallet, and imToken for comparison. It can be found that they exhibit distinctly different strategic focuses in integration paths and entry strategies, which can basically be divided into three tiers: 'Strategic Type - Integrated Type - Compatible Type', forming a clear distinction of 'highlights - optional but not necessary - only supports trading'.

However, before the comparison, it is essential to clarify one premise: as the downstream channel of the issuer, the coverage quantity of stock tokens is not entirely dominated by wallets; differences mainly lie in integration methods and entry designs, hence horizontal comparison of quantity itself is not very meaningful.

First, the first tier views RWA trading as a core strategic direction, giving the highest priority in product design. The UI is very intuitive for users. Bitget Wallet and SafePal are typical representatives among them.

• Bitget Wallet: In the 'Market' and 'Trading' sections of the primary navigation bar, dedicated 'Stock' section pages are set up, allowing users to intuitively filter and trade US stock tokens just like browsing the market of native crypto coins;

• SafePal: Similarly, in the 'Market' primary navigation bar, a dedicated 'xStocks' category entry is opened, allowing users to browse market conditions and discover investment opportunities in a concentrated manner; for users with specific goals, they can directly search for stock codes (like TSLAx) in the core 'Flash Exchange' function to complete the exchange in one step, without needing to jump.

The design behind this is undoubtedly hoping to deeply bind users' mindset of 'investing in US stocks' with their own products, so you will find that the specific stock trading pages of Bitget Wallet and SafePal are equipped with detailed K-line charts, market capitalization, trading volume, and other information, with SafePal even aggregating related news, resulting in a high product completion.

Secondly, the second tier's attitude towards RWA is somewhat 'lukewarm', as it does not design an extra dedicated entry for tokenized US stocks, adhering to the philosophy of 'optional but not necessary' by integrating it in the 'built-in Swap' channel.

OneKey is a typical representative of this category, integrating stock trading into the existing 'Trading/Swap' page rather than creating a dedicated entry point. This means users need to actively search for stock codes (Tickers) in the Swap interface. To be honest, this poses a certain usability barrier for users unfamiliar with US stocks, and the experience suffers.

Finally, there is the third tier represented by imToken, which adopts a rather conservative follow-up strategy in this round of RWA layout. It essentially only provides a browser entry, belonging to 'can do' rather than 'integrated'—according to my tests, users need to manually open DApps like CowSwap in the 'Browse' page and even need to manually enable the token list of issuers like Ondo to search for related assets on first use.

Frankly, the stock trading entry of imToken is somewhat obscure. The entire process is not only cumbersome but also encounters additional barriers like network settings (I have tested that under certain IP addresses, its built-in browser cannot even search for the CowSwap protocol), and this approach is almost equivalent to any wallet with a DApp browser can achieve, failing to reflect a product-level design layout.

From the comparison, it is clear that SafePal and Bitget Wallet have already regarded tokenized US stocks as a core strategy, focusing on capturing the traffic and trading demand brought by RWA; while OneKey and imToken seem more like they are adding a 'little extra' to the existing functionality library, maintaining ecological compatibility but not actively pushing forward.

In summary, from a comprehensive assessment of entry intuitiveness and trading convenience, we can clearly perceive who demonstrates stronger strategic determination and product completion in the current RWA layout of Web3 wallets.

Actual trading experience of tokenized US stocks

However, after horizontally comparing each wallet's strategies and entry tactics, one must return to the most fundamental question—user's actual trading experience.

Let’s take the SafePal wallet as an example to intuitively experience how to trade tokenized US stocks freely in a Web3 wallet.

It is important to note that while tokenized stocks can circulate on-chain 24/7, some issuers still link to US stock trading hours, with the main trading times currently being 21:30 – 04:00 Beijing time. Additionally, it is necessary to ensure that the wallet has sufficient stablecoins (such as USDT/USDC on the Solana chain) as trading capital, and a small amount of SOL as network gas fees.

• First, open the SafePal wallet APP, click on 'Market' at the bottom, find and select the 'xStocks' tag at the top category, and you will enter the specialized section for US stock tokens, displaying a list of all 48 supported US stock tokens for trading;

• Taking the purchase of Tesla (TSLAx) as an example, find TSLAx in the list, click to enter, and you will see the dedicated page for this asset, including K-line charts, market trends, and trading entries;

• Then click Swap, select the Solana network, and you can enter the actual trading page;

Entering the trading interface, you will find that the operations are completely consistent with the familiar logic of Uniswap and other DEXs, extremely friendly to crypto users:

• In the 'Payment' section, select a currency with balance, such as SOL or USDT/USDC, and enter the corresponding amount;

• In the 'Get' section, the corresponding purchase quantity of the US stock token will be automatically converted; you can also enter the number of TSLAx shares you want to buy (supports decimals, e.g., 0.1 shares), and the system will calculate the amount to be paid;

• After verifying that the information is correct, click 'Flash Exchange' and confirm, then confirm the transaction in the pop-up window of the SafePal wallet;

After entering your secure password or verifying through biometric authentication, the transaction will be submitted to the blockchain. Please wait a moment (usually within 1-5 minutes), and the transaction will be completed.

After the transaction is confirmed, the tokenized stock asset TSLAx will appear in the asset list of the SafePal wallet, allowing you to check its price fluctuations at any time or sell it back for SOL or USDT/USDC, etc., when needed.

At this point, a real 'on-chain US stock trading' that requires no account opening and no cross-border remittance has been completed, and asset viewing, management, and trading can all be done in one-stop within the wallet.

In conclusion

Objectively speaking, all current Web3 wallets' exploration of RWA trading is still in its early stages, especially when presenting and trading traditional assets like US stocks, there are still significant gaps compared to mature TradFi applications.

It is precisely because of this that attempts by non-custodial wallets like SafePal have real value not in copying old paradigms, but in exploring and shaping new rules—providing a 'plug-and-play' disruptive experience compared to the cumbersome account opening and fund allocation processes of traditional brokerages.

This also means that even if tokenized US stocks may not be the ultimate answer for the large-scale landing of RWA, the evolution of the identity of Web3 wallets is already a settled fact, moving from a single entry for crypto assets to a key hub intersecting real assets and on-chain liquidity.