Greetings to my Hive family and the #Leofinance interface, it's a beautiful morning over here and I know it's also a beautiful day over where you are. Today I'll be discussing on a crucial topic that might change the fortunes of the crypto world. Stay tuned as we move together. It's your friend @faquan saying hello from this part of the world.
One of the ways crypto global has benefited and advanced in recent times is through the emergence of Donald Trump as US President. This is because he's policies have favored the entire crypto world.
However, for further advancement the cryptocurrencies have to take over major part of the stock exchange market. This will help the crypto world generally. This can be achieved through tokenized public equities and Backpack has proposed for this move
Crypto exchange Backpack will begin offering access to tokenized public equities through a new partnership with Superstate, a digital securities infrastructure provider registered with the US Securities & Exchange Commission (SEC). The integration allows eligible non-US users to trade blockchain-based representations of regulated equities alongside crypto and stablecoins.
The move, announced in a company statement, positions Backpack among a small number of exchanges testing how far traditional finance can be brought onchain without breaching securities law. Superstate’s Opening Bell platform, described internally as "Nasdaq on Solana", enables companies to issue SEC-registered shares directly onto blockchain networks such as Solana and Ethereum. Each token represents actual ownership of the underlying stock rather than a synthetic derivative – a distinction that sets it apart from earlier experiments in tokenized assets.
The intention is to bring Wall Street onchain. Doing this will impact the crypto world positively and will be seen as one of the biggest wins for the crypto global. Wall Street is known for its traditional finance exchange. With this proposal, the future becomes brighter for all of us in the crypto world.
This move is with the desire to bring the tokenized real world Assets which is worth about $33bn and this assets are increasing on a daily basis. The crypto world has grown significantly for more two decades.
What's your take on moving traditional finance onchain?