Tokenized stocks and ETFs on BNB Chain have already reached $1.1 billion, with the whole sector at $3.7 billion—this one company accounts for about one third. Two years ago, no one would have believed this figure; exchange public chains are now doing the work of a brokerage.

I’m watching the compliance boundary. The U.S. Office of the Comptroller of the Currency (OCC) has issued a license to a crypto trust, and the Independent Community Bankers Association has directly sued the OCC, arguing it overstepped its authority. On one side, tokenized U.S. stocks are rolling on-chain; on the other, traditional banks are blocking it in court. Until there are answers to who the buyers are and who is responsible for custody, even if the scale keeps growing, it’s only a paper number.

$BNB