纳斯达克和令牌化证券：交易的下一个前沿

纳斯达克（Nasdaq）进入令牌化证券是迈向将区块链与传统金融融合，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.

哟，怎么了，华尔街观察家！纳斯达克正在采取行动，他们都将区块链带到大联盟。忘记那些尘土飞扬的老分类帐；宝贝，未来是象征性的！让我们深入了解纳斯达克邦，象征性证券和贸易的震撼。

Nasdaq's Bold Step into Tokenized Securities

纳斯达克大胆进入令牌证券

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，纳斯达克向SEC提出了一项提案（2025年9月8日），让会员公司贸易股票和ETP的代币版本。将其视为您的常规股票，但由于它们生活在区块链上，因此更凉爽。目标？将数字资产集成到现有的金融基础设施中而不会引起混乱。纳斯达克总统塔尔·科恩（Tal Cohen）称其为“令人兴奋的飞跃”，旨在削减摩擦并提高效率，同时保持公平和正方形。

How It Works: Tokenized Trading, Explained

它的工作原理：令牌交易，解释说

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.

这是低点：这些令牌化证券将与传统同行交易。相同的订单书，相同的规则，相同的所有内容 - 仅具有区块链扭曲。纳斯达克的查克·麦克（Chuck Mack）强调，这些令牌代表与传统股票相同的价值存储。存款信托公司（DTC）将在交易后​​处理转换为令牌表格。就像您常规​​的华尔街喧嚣一样，但是进行了技术升级。

Why Tokenization? The Benefits are Real

为什么象征化？好处是真实的

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.

为什么所有关于令牌化的大惊小怪？好吧，区块链技术承诺更快地定居点，更有效的对帐和透明的记录保存。纳斯达克敢打赌，可以解锁这些好处，而不会损害美国金融体系的保障措施。另外，一旦资产被标记化，它们就会在金融市场及其他地区开放新的可能性。

Keeping it Real: Nasdaq's Cautious Approach

保持真实：纳斯达克的谨慎态度

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!

纳斯达克并没有弄乱不受管制的加密野生西部氛围。他们对不提供完全股东权利或透明度的平台保持警惕。纳斯达克的提议确保了其交易所交易的任何令牌安全均具有全部股东权利，并受到与传统股票相同的监督。伙计们，这里没有有趣的生意！

Tokenization Trends: It's Not Just Nasdaq

令牌化趋势：不仅仅是纳斯达克

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.

纳斯达克在这场比赛中并不孤单。令牌化趋势一直在严重吸引人。现实世界中的资产（RWA）市场已经爆炸，从2022年的50亿美元增长到2025年9月的240亿美元。BlackRock，Fidelity甚至Robinhood正在采取行动。这表明未来正倾向于将现实世界的资产带入区块链。

The Bitcoin Angle: How It All Connects

比特币角度：它们如何连接

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.

当纳斯达克正在潜入令牌的股票中，比特币本身正在看到一些有趣的行动。机构正在积累比特币，技术结构暗示了潜在的突破。纳斯达克（Nasdaq）进入令牌化股票仅强调了主流金融中区块链基础设施的不断增长。这都是同一趋势的一部分：将数字资产和传统财务更加紧密。

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

我的看法：未来是象征性的，但要谨慎

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，这是我的两分钱：纳斯达克的举动是改变游戏规则的人。令牌化有可能通过使市场更有效和易于访问来彻底改变金融。但是，维持投资者的保护和监管监督至关重要。正如查克·麦克（Chuck Mack）所说，这一切都是关于嵌入治理，韧性和投资者保护措施，以避免过去的市场失败。我们以前已经看到这种情况。看看露娜的内爆。以及FTX的崩溃。通过法规和监督，这一切都可以避免。

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。纳斯达克正在通过标记证券进入未来，这是值得一看的发展。伙计们，请睁大眼睛，因为金融世界将变得更加有趣。直到下一次，保持精明！