OnChain Gold，sikenized股票和里程碑交易：合规性现实资产的新时代？

探索Onchain Gold的兴起，标记股票的潜力以及里程碑交易的未来。这是兼容现实世界资产交易的曙光吗？

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：合规性现实资产的新时代？

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.

传统金融和加密货币世界的融合正在加速，OnChain Gold量飙升和标记的股票准备破坏市场。我们是否正在目睹合规化的现实资产（RWA）交易的新时代的开始？让我们潜水。

Gold-Backed Tokens: A Safe Haven and Liquidity Asset

金牌代币：避风港和流动性资产

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.

最近的数据显示，金黄金（XAUT）和Paxos Gold（PAXG）等金牌代币的OnChain交易量有了显着的激增。 2025年5月，合并量达到2.36亿美元，与前两周相比增长了247％。 Paxos Gold继续占主导地位，占总数的68％。这种尖峰表明，投资者越来越多地将Onchain Gold视为避风港，而且是可靠的流动性资产，尤其是在地缘政治或市场压力时期。

Tokenized Stocks: The Next Frontier

象征性股票：下一个前沿

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.

在获得黄金支持的代币成功之后，机构和Defi参与者正在加大努力，以使传统股票代表传统股票。例如，Coinbase正在寻求SEC批准，为美国客户推出令牌股票交易服务。此举可能会通过提供更快的结算，更长的交易窗口和降低运营成本来彻底改变股票交易。

JPMorgan Chase and Coinbase Lead the Charge

摩根大通（JPMorgan Chase）和共插基（Coinbase）领导电荷

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）积极探索链银行业务，代表客户在基本区块链上的美元银行存款。该试点项目旨在简化机构级别的交易。同时，Coinbase正在发展成为链上资产基础设施提供商，有可能成为加密资产和传统证券的“纳斯达克”。

Regulatory Winds and Revenue Streams

监管风和收入流

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.

美国参议院通过《天才法案》的通过信号信号越来越多地接受加密资产的监管接受。这种有利的背景使Coinbase等公司可以通过令牌股票，衍生品交易和Stablecoin付款来探索新的收入来源。通过将DEX集成到基础上，并与Shopify and Stripe等平台合作，Coinbase正在建立一个全面的链上金融操作系统。

A Personal Take: The Future is Tokenized

个人看法：未来是标记的

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的发展令人难以置信。想象一个世界，即交易股票与交易加密货币一样无缝，近乎安息和24/7的可用性。提高效率和可及性的潜力是巨大的。当然，监管合规性和安全性至关重要，但是我们看到的进步表明，这种未来比我们想象的要近。例如，Coinbase主动寻求SEC的无异议信表明了对合规性的承诺，为更广泛的采用铺平了道路。

Wrapping Up: Buckle Up, Buttercup!

总结：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!

从巨大的代币到令牌股票以及由摩根大通和Coinbase等巨人建造的基础设施，OnChain Finance的世界正在迅速发展。参与加密空间是一个激动人心的时刻。因此，请保持眼睛剥皮，保持好奇，并为疯狂的骑行做好准备！