OnChain Gold，sikenized股票和里程碑交易：合規性現實資產的新時代？

探索Onchain Gold的興起，標記股票的潛力以及里程碑交易的未來。這是兼容現實世界資產交易的曙光嗎？

Onchain Gold, Tokenized Stocks, and Milestone Trading: A New Era of Compliant Real-World Assets?

OnChain Gold，sikenized股票和里程碑交易：合規性現實資產的新時代？

The convergence of traditional finance and the crypto world is accelerating, with onchain gold volumes soaring and tokenized stocks poised to disrupt the market. Are we witnessing the beginning of a new era of compliant real-world asset (RWA) trading? Let's dive in.

傳統金融和加密貨幣世界的融合正在加速，OnChain Gold量飆升和標記的股票準備破壞市場。我們是否正在目睹合規化的現實資產（RWA）交易的新時代的開始？讓我們潛水。

Gold-Backed Tokens: A Safe Haven and Liquidity Asset

金牌代幣：避風港和流動性資產

Recent data reveals a significant surge in onchain trading volumes for gold-backed tokens like Tether Gold (XAUt) and Paxos Gold (PAXG). In May 2025, combined volumes reached $236 million, a 247% increase compared to the previous two weeks. Paxos Gold continues to dominate, accounting for 68% of the total volume. This spike suggests that investors are increasingly viewing onchain gold not just as a safe haven, but as a reliable liquidity asset, especially during times of geopolitical or market stress.

最近的數據顯示，金黃金（XAUT）和Paxos Gold（PAXG）等金牌代幣的OnChain交易量有了顯著的激增。 2025年5月，合併量達到2.36億美元，與前兩週相比增長了247％。 Paxos Gold繼續占主導地位，佔總數的68％。這種尖峰表明，投資者越來越多地將Onchain Gold視為避風港，而且是可靠的流動性資產，尤其是在地緣政治或市場壓力時期。

Tokenized Stocks: The Next Frontier

象徵性股票：下一個前沿

Following the success of gold-backed tokens, institutional and DeFi players are ramping up efforts to tokenize traditional equities. Coinbase, for instance, is seeking SEC approval to launch tokenized stock trading services for U.S. customers. This move could revolutionize stock trading by offering faster settlement, longer trading windows, and lower operating costs.

在獲得黃金支持的代幣成功之後，機構和Defi參與者正在加大努力，以使傳統股票代表傳統股票。例如，Coinbase正在尋求SEC批准，為美國客戶推出令牌股票交易服務。此舉可能會通過提供更快的結算，更長的交易窗口和降低運營成本來徹底改變股票交易。

JPMorgan Chase and Coinbase Lead the Charge

摩根大通（JPMorgan Chase）和共插基（Coinbase）領導電荷

JPMorgan Chase is actively exploring on-chain banking with its JPMD (JPMorgan Deposit Token), representing a customer's U.S. dollar bank deposit on the Base blockchain. This pilot project aims to streamline institutional-level trading. Simultaneously, Coinbase is evolving into an on-chain asset infrastructure provider, potentially becoming the “Nasdaq” for both crypto assets and traditional securities.

摩根大通（JPMorgan Chase）正在用JPMD（JPMorgan存款令牌）積極探索鏈銀行業務，代表客戶在基本區塊鏈上的美元銀行存款。該試點項目旨在簡化機構級別的交易。同時，Coinbase正在發展成為鏈上資產基礎設施提供商，有可能成為加密資產和傳統證券的“納斯達克”。

Regulatory Winds and Revenue Streams

監管風和收入流

The U.S. Senate's passage of the GENIUS Act signals growing regulatory acceptance of crypto assets. This favorable backdrop allows companies like Coinbase to explore new revenue streams through tokenized stocks, derivatives trading, and stablecoin payments. By integrating DEX on Base and partnering with platforms like Shopify and Stripe, Coinbase is building a comprehensive on-chain financial operating system.

美國參議院通過《天才法案》的通過信號信號越來越多地接受加密資產的監管接受。這種有利的背景使Coinbase等公司可以通過令牌股票，衍生品交易和Stablecoin付款來探索新的收入來源。通過將DEX集成到基礎上，並與Shopify and Stripe等平台合作，Coinbase正在建立一個全面的鏈上金融操作系統。

A Personal Take: The Future is Tokenized

個人看法：未來是標記的

The developments in onchain gold and tokenized stocks are incredibly exciting. Imagine a world where trading stocks is as seamless as trading crypto, with near-instant settlement and 24/7 availability. The potential for increased efficiency and accessibility is enormous. Of course, regulatory compliance and security are paramount, but the progress we're seeing suggests that this future is closer than we think. For example, Coinbase proactively seeking a no-objection letter from the SEC demonstrates a commitment to compliance, paving the way for wider adoption.

OnChain Gold和Singkenized Stocks的發展令人難以置信。想像一個世界，即交易股票與交易加密貨幣一樣無縫，近乎安息和24/7的可用性。提高效率和可及性的潛力是巨大的。當然，監管合規性和安全性至關重要，但是我們看到的進步表明，這種未來比我們想像的要近。例如，Coinbase主動尋求SEC的無異議信表明了對合規性的承諾，為更廣泛的採用鋪平了道路。

Wrapping Up: Buckle Up, Buttercup!

總結：搭扣，毛cup！

From gold-backed tokens to tokenized stocks and the infrastructure being built by giants like JPMorgan Chase and Coinbase, the world of onchain finance is rapidly evolving. It's a thrilling time to be involved in the crypto space. So, keep your eyes peeled, stay curious, and get ready for a wild ride!

從巨大的代幣到令牌股票以及由摩根大通和Coinbase等巨人建造的基礎設施，OnChain Finance的世界正在迅速發展。參與加密空間是一個激動人心的時刻。因此，請保持眼睛剝皮，保持好奇，並為瘋狂的騎行做好準備！