象徵性股票：Robinhood，Gemini和NYSE威脅

Robinhood和Gemini的轉移到令牌化的股票中正在振作傳統金融。紐約證券交易所已準備好進行區塊鏈革命嗎？

Tokenized Stocks: Robinhood, Gemini, and the NYSE Threat

象徵性股票：Robinhood，Gemini和NYSE威脅

The world of finance is changing fast! Tokenized stocks are here, and big players like Robinhood and Gemini are leading the charge. But what does this mean for giants like the NYSE? Buckle up, because things are about to get interesting.

金融世界正在快速變化！象徵性的股票在這裡，像Robinhood和Gemini這樣的大型球員正在領導這一負責人。但是這對紐約證券交易所等巨人意味著什麼？係好，因為事情將變得有趣。

Robinhood Chain Launches 24/7 Tokenized Trading

Robinhood Chain推出24/7令牌交易

Robinhood is making waves with its new "Robinhood Chain," an Ethereum-compatible layer-2 solution. This allows users to trade tokenized versions of stocks around the clock (well, almost—initially 24/5, but with plans for full 24/7 access). Imagine trading your favorite stocks at 3 AM—now you can!

Robinhood正在使用其新的“ Robinhood Chain”（一種與以太坊兼容的第2層解決方案）引起波浪。這使用戶可以全天交易股票的股票版本（幾乎是最初24/5，但有24/7訪問的計劃）。想像一下，在凌晨3點交易您喜歡的股票 - 現在可以！

These tokens represent real-world stocks held by a US broker-dealer. This means you get the benefits of blockchain (like faster settlements and self-custody of assets) without losing actual equity ownership.

這些令牌代表了美國經紀交易商持有的現實世界股票。這意味著您可以獲得區塊鏈的好處（例如更快的定居點和資產的自我定居）而不會失去實際的股權所有權。

Gemini Brings Tokenized Stocks to Europe

雙子座將像徵性的股票帶到歐洲

Not to be outdone, Gemini is offering tokenized U.S. stocks to European Union (EU) investors. This is a game-changer for EU investors who've historically faced hurdles like complex regulatory requirements and currency conversion fees. Gemini is making it easier than ever to invest in U.S. companies, anytime, anywhere.

Gemini不得超過，Demini向歐盟（EU）投資者提供令牌化的股票。對於歐盟投資者來說，這是一個改變遊戲規則的人，他們歷來遇到了諸如復雜的監管要求和貨幣轉換費等障礙。雙子座比以往任何時候都更容易投資於美國公司。

Gemini partnered with Dinari, a FINRA-registered broker-dealer, to issue these tokenized stocks on Arbitrum, another layer-2 scaling solution for Ethereum. This ensures a secure and efficient platform for users.

雙子座與FINRA註冊的經紀交易商Dinari合作，將這些令牌化股票發佈在Dioltum上，這是Ethereum的另一種層級縮放解決方案。這樣可以確保為用戶提供安全有效的平台。

The NYSE's Competitive Advantage Under Threat

紐約證券交易所的競爭優勢受到威脅

Galaxy Digital raises a critical point: Robinhood's blockchain model could erode the NYSE's competitive advantage. The NYSE relies on concentrated liquidity and market data revenue. By capturing both trading fees and downstream blockchain use cases, Robinhood is positioning itself to profit from every stage of the trading lifecycle.

Galaxy Digital提出了一個關鍵點：Robinhood的區塊鏈模型可能會侵蝕NYSE的競爭優勢。紐約證券交易所依賴於集中流動性和市場數據收入。通過捕獲交易費和下游區塊鏈用例，Robinhood正在定位自己從交易生命週期的每個階段獲利。

Essentially, if everyone's trading tokenized stocks on blockchain, what role does a traditional exchange like the NYSE play? Unless legacy exchanges adapt, they risk becoming obsolete, managing less versatile versions of the same assets.

從本質上講，如果每個人都在區塊鏈上進行交易令牌股票，那麼像紐約證券交易所（NYSE Play）這樣的傳統交易所角色是什麼？除非傳統交換適應，否則它們可能會過時，管理同一資產的用途較少的版本。

Fractional Shares: Democratizing Investing

分數份額：民主化投資

Both Robinhood and Gemini are offering fractional shares. This means you don't need to buy a whole share of a company—you can buy a fraction of one. This is huge for new investors who might not have the capital to buy full shares. It lowers the barrier to entry and allows for greater portfolio diversification.

Robinhood和Gemini都提供了部分份額。這意味著您不需要購買公司的全部份額，您可以購買一部分。對於可能沒有資金購買全部股票的新投資者來說，這是巨大的。它降低了進入障礙，並允許更多的投資組合多元化。

Regulatory Hurdles and Volatility Risks

監管障礙和波動風險

Of course, it's not all sunshine and rainbows. Regulatory clarity is still lacking in the U.S., and the SEC hasn't commented on these new trading models. Also, 24/7 trading brings the risk of significant overnight price swings. Retail investors need to be aware of these risks and take appropriate precautions.

當然，這並不是所有的陽光和彩虹。美國仍然缺乏監管清晰度，SEC尚未對這些新交易模式發表評論。此外，24/7交易帶來了隔夜價格波動的風險。散戶投資者需要意識到這些風險並採取適當的預防措施。

My Two Sats

我的兩個坐著

Personally, I think this is the future. Blockchain technology has the potential to revolutionize finance, making it more accessible and efficient. The NYSE and other traditional exchanges need to adapt or risk being left behind. The GENIUS Act is a step in the right direction but more regulatory clarity is needed to allow innovation to thrive while protecting investors. Whether Robinhood and Gemini can navigate the regulatory environment and manage the risks remains to be seen, but their moves are undoubtedly shaking up the financial world.

就個人而言，我認為這是未來。區塊鏈技術有可能徹底改變財務，使其更容易獲得和高效。紐約證券交易所和其他傳統交流需要適應或危險被拋在後面。 《天才法》是朝著正確方向邁出的一步，但需要更加明確的清晰度，以使創新在保護投資者的同時蓬勃發展。 Robinhood和Gemini是否可以駕駛監管環境並管理風險還有待觀察，但他們的舉動無疑是在振作金融界。

The Future is Now

未來現在是

So, what does all this mean? The lines between traditional finance and decentralized finance are blurring, and tokenized stocks are leading the way. It's an exciting time to be in the market, so buckle up, do your research, and get ready for the ride. The future of finance is here, and it's tokenized!

那麼，這意味著什麼？傳統金融和分散財務之間的界限是模糊的，令牌化的股票正處於領先地位。這是進入市場的激動人心的時刻，所以搭扣，進行研究並為騎行做好準備。財務的未來就在這裡，它已被象徵化！