納斯達克和令牌化證券：交易的下一個前沿

納斯達克（Nasdaq）進入令牌化證券是邁向將區塊鏈與傳統金融融合，有望提高效率和可及性的重要一步。

Yo, what's up, Wall Street watchers! Nasdaq is making moves, and they're all about bringing blockchain to the big leagues. Forget those dusty old ledgers; the future is tokenized, baby! Let’s dive into what’s shaking up the world of Nasdaq, tokenized securities, and trading.

喲，怎麼了，華爾街觀察家！納斯達克正在採取行動，他們都將區塊鏈帶到大聯盟。忘記那些塵土飛揚的老分類帳；寶貝，未來是像徵性的！讓我們深入了解納斯達克邦，象徵性證券和貿易的震撼。

Nasdaq's Bold Step into Tokenized Securities

納斯達克大膽進入令牌證券

So, Nasdaq filed a proposal with the SEC (September 8, 2025) to let member firms trade tokenized versions of stocks and ETPs. Think of it as your regular stocks, but cooler because they live on the blockchain. The goal? Integrate digital assets into the existing financial infrastructure without causing chaos. Nasdaq President Tal Cohen calls it “an exciting leap forward,” aiming to cut friction and boost efficiency while keeping things fair and square.

因此，納斯達克向SEC提出了一項提案（2025年9月8日），讓會員公司貿易股票和ETP的代幣版本。將其視為您的常規股票，但由於它們生活在區塊鏈上，因此更涼爽。目標？將數字資產集成到現有的金融基礎設施中而不會引起混亂。納斯達克總統塔爾·科恩（Tal Cohen）稱其為“令人興奮的飛躍”，旨在削減摩擦並提高效率，同時保持公平和正方形。

How It Works: Tokenized Trading, Explained

它的工作原理：令牌交易，解釋說

Here’s the lowdown: these tokenized securities would trade right alongside their traditional counterparts. Same order book, same rules, same everything – just with a blockchain twist. Chuck Mack from Nasdaq emphasizes that these tokens represent the same store of value as traditional stocks. The Depository Trust Company (DTC) would handle the conversion to token form after the trade. It’s like your regular Wall Street hustle, but with a tech upgrade.

這是低點：這些令牌化證券將與傳統同行交易。相同的訂單書，相同的規則，相同的所有內容 - 僅具有區塊鏈扭曲。納斯達克的查克·麥克（Chuck Mack）強調，這些令牌代表與傳統股票相同的價值存儲。存款信託公司（DTC）將在交易後​​處理轉換為令牌表格。就像您常規​​的華爾街喧囂一樣，但是進行了技術升級。

Why Tokenization? The Benefits are Real

為什麼像徵化？好處是真實的

Why all the fuss about tokenization? Well, blockchain tech promises faster settlements, more efficient reconciliation, and transparent record-keeping. Nasdaq is betting that these benefits can be unlocked without compromising the safeguards of the U.S. financial system. Plus, once assets are tokenized, they open up new possibilities in financial markets and beyond.

為什麼所有關於令牌化的大驚小怪？好吧，區塊鏈技術承諾更快地定居點，更有效的對帳和透明的記錄保存。納斯達克敢打賭，可以解鎖這些好處，而不會損害美國金融體系的保障措施。另外，一旦資產被標記化，它們就會在金融市場及其他地區開放新的可能性。

Keeping it Real: Nasdaq's Cautious Approach

保持真實：納斯達克的謹慎態度

Nasdaq isn’t messing around with unregulated crypto Wild West vibes. They’re wary of platforms that don’t offer full shareholder rights or transparency. Nasdaq's proposal ensures that any tokenized security traded on its exchange carries full shareholder rights and is subject to the same oversight as traditional shares. No funny business here, folks!

納斯達克並沒有弄亂不受管制的加密野生西部氛圍。他們對不提供完全股東權利或透明度的平台保持警惕。納斯達克的提議確保了其交易所交易的任何令牌安全均具有全部股東權利，並受到與傳統股票相同的監督。伙計們，這裡沒有有趣的生意！

Tokenization Trends: It's Not Just Nasdaq

令牌化趨勢：不僅僅是納斯達克

Nasdaq isn't alone in this game. The tokenization trend has been gaining serious traction. The real-world asset (RWA) market has exploded, growing from around $5 billion in 2022 to over $24 billion by September 2025. BlackRock, Fidelity, and even Robinhood are getting in on the action. It's a sign that the future is leaning heavily towards bringing real-world assets onto the blockchain.

納斯達克在這場比賽中並不孤單。令牌化趨勢一直在嚴重吸引人。現實世界中的資產（RWA）市場已經爆炸，從2022年的50億美元增長到2025年9月的240億美元。 BlackRock，Fidelity甚至Robinhood正在採取行動。這表明未來正傾向於將現實世界的資產帶入區塊鏈。

The Bitcoin Angle: How It All Connects

比特幣角度：它們如何連接

While Nasdaq is diving into tokenized equities, Bitcoin itself is seeing some interesting action. Institutions are accumulating Bitcoin, and the technical structure hints at a potential breakout. Nasdaq’s move into tokenized stocks only underscores the growing relevance of blockchain infrastructure in mainstream finance. It’s all part of the same trend: bringing digital assets and traditional finance closer together.

當納斯達克正在潛入令牌的股票中，比特幣本身正在看到一些有趣的行動。機構正在積累比特幣，技術結構暗示了潛在的突破。納斯達克（Nasdaq）進入令牌化股票僅強調了主流金融中區塊鏈基礎設施的不斷增長。這都是同一趨勢的一部分：將數字資產和傳統財務更加緊密。

My Take: The Future is Tokenized, But Proceed with Caution

我的看法：未來是像徵性的，但要謹慎

Alright, here’s my two cents: Nasdaq's move is a game-changer. Tokenization has the potential to revolutionize finance by making markets more efficient and accessible. However, it’s crucial to maintain investor protections and regulatory oversight. As Chuck Mack said, it's all about embedding governance, resilience, and investor protections from the get-go to avoid past market failures. We have seen this happen before. Look at the implosion of Luna. As well as the collapse of FTX. This could all be avoided with regulations and oversight.

好吧，這是我的兩分錢：納斯達克的舉動是改變遊戲規則的人。令牌化有可能通過使市場更有效和易於訪問來徹底改變金融。但是，維持投資者的保護和監管監督至關重要。正如查克·麥克（Chuck Mack）所說，這一切都是關於嵌入治理，韌性和投資者保護措施，以避免過去的市場失敗。我們以前已經看到這種情況。看看露娜的內爆。以及FTX的崩潰。通過法規和監督，這一切都可以避免。

So, there you have it. Nasdaq is stepping into the future with tokenized securities, and it’s a development worth watching. Keep your eyes peeled, folks, because the world of finance is about to get a whole lot more interesting. Until next time, stay savvy!

所以，你有。納斯達克正在通過標記證券進入未來，這是值得一看的發展。伙計們，請睜大眼睛，因為金融世界將變得更加有趣。直到下一次，保持精明！