象征性股票：Robinhood，Gemini和NYSE威胁

Robinhood和Gemini的转移到令牌化的股票中正在振作传统金融。纽约证券交易所已准备好进行区块链革命吗？

Tokenized Stocks: Robinhood, Gemini, and the NYSE Threat

象征性股票：Robinhood，Gemini和NYSE威胁

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.

金融世界正在快速变化！象征性的股票在这里，像Robinhood和Gemini这样的大型球员正在领导这一负责人。但是这对纽约证券交易所等巨人意味着什么？系好，因为事情将变得有趣。

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”（一种与以太坊兼容的第2层解决方案）引起波浪。这使用户可以全天交易股票的股票版本（几乎是最初24/5，但有24/7访问的计划）。想象一下，在凌晨3点交易您喜欢的股票 - 现在可以！

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.

这些令牌代表了美国经纪交易商持有的现实世界股票。这意味着您可以获得区块链的好处（例如更快的定居点和资产的自我定居）而不会失去实际的股权所有权。

Gemini Brings Tokenized Stocks to Europe

双子座将象征性的股票带到欧洲

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不得超过，Demini向欧盟（EU）投资者提供令牌化的股票。对于欧盟投资者来说，这是一个改变游戏规则的人，他们历来遇到了诸如复杂的监管要求和货币转换费等障碍。双子座比以往任何时候都更容易投资于美国公司。

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.

双子座与FINRA注册的经纪交易商Dinari合作，将这些令牌化股票发布在Dioltum上，这是Ethereum的另一种层级缩放解决方案。这样可以确保为用户提供安全有效的平台。

The NYSE's Competitive Advantage Under Threat

纽约证券交易所的竞争优势受到威胁

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提出了一个关键点：Robinhood的区块链模型可能会侵蚀NYSE的竞争优势。纽约证券交易所依赖于集中流动性和市场数据收入。通过捕获交易费和下游区块链用例，Robinhood正在定位自己从交易生命周期的每个阶段获利。

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.

从本质上讲，如果每个人都在区块链上进行交易令牌股票，那么像纽约证券交易所（NYSE Play）这样的传统交易所角色是什么？除非传统交换适应，否则它们可能会过时，管理同一资产的用途较少的版本。

Fractional Shares: Democratizing Investing

分数份额：民主化投资

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都提供了部分份额。这意味着您不需要购买公司的全部份额，您可以购买一部分。对于可能没有资金购买全部股票的新投资者来说，这是巨大的。它降低了进入障碍，并允许更多的投资组合多元化。

Regulatory Hurdles and Volatility Risks

监管障碍和波动风险

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.

当然，这并不是所有的阳光和彩虹。美国仍然缺乏监管清晰度，SEC尚未对这些新交易模式发表评论。此外，24/7交易带来了隔夜价格波动的风险。散户投资者需要意识到这些风险并采取适当的预防措施。

My Two Sats

我的两个坐着

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.

就个人而言，我认为这是未来。区块链技术有可能彻底改变财务，使其更容易获得和高效。纽约证券交易所和其他传统交流需要适应或危险被抛在后面。 《天才法》是朝着正确方向迈出的一步，但需要更加明确的清晰度，以使创新在保护投资者的同时蓬勃发展。 Robinhood和Gemini是否可以驾驶监管环境并管理风险还有待观察，但他们的举动无疑是在振作金融界。

The Future is Now

未来现在是

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!

那么，这意味着什么？传统金融和分散财务之间的界限是模糊的，令牌化的股票正处于领先地位。这是进入市场的激动人心的时刻，所以搭扣，进行研究并为骑行做好准备。财务的未来就在这里，它已被象征化！