Artículos Relacionados con Tokenized Stocks

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Deutsche Börse Invests $200 Million in Kraken, Valuation Drops 30% from Last Year

Kraken co-CEO Arjun Sethi confirmed at the Semafor World Economy Conference that the crypto exchange has confidentially filed for an IPO. The announcement came alongside a $200 million investment from Deutsche Börse, which acquired a 1.5% stake in Kraken’s parent company Payward, implying a valuation of $13.3 billion — a 33% decrease from its $20 billion valuation in November 2025. Kraken initially submitted its draft S-1 to the SEC a day after its previous funding round, which included backing from Citadel Securities, Jane Street, and DRW Venture Capital. The exchange has not disclosed IPO size or pricing, stating it will finalize terms after regulatory review and market stabilization. The investment deepens a commercial collaboration announced in December 2025, focusing on integrating Kraken’s xStocks tokenized stock platform into Deutsche Börse’s digital asset infrastructure. Kraken has expanded aggressively, launching CME futures trading in October 2025 and reaching over $10 billion in xStocks trading volume by November. Regulatory conditions have also improved, with the SEC dropping its lawsuit against Kraken in March 2025.

marsbit04/15 06:52

Deutsche Börse Invests $200 Million in Kraken, Valuation Drops 30% from Last Year

marsbit04/15 06:52

RootData: February 2026 Cryptocurrency Exchange Transparency Research Report

RootData's February 2026 Cryptocurrency Exchange Transparency Research Report highlights key industry trends and a top 10 exchange ranking: Binance, OKX, Coinbase, Kraken, Gate, Upbit, Kucoin, Crypto.com, HTX, and Bitget. The ranking is based on metrics like trading volume, reserves, listing performance, compliance, and transparency. In February, the overall spot trading volume fell 4.7% to $895.2 billion, attributed to weak market conditions, a lack of directional price movement, and the Chinese New Year holiday reducing activity. New token listings hit a low, with only 10-15 new tokens launched. A significant majority (82%) of newly listed tokens had a transparency score above 60%, indicating a strong preference for transparent projects. A notable trend was increased M&A activity in the Asia-Pacific region, with traditional finance giants acquiring exchanges like Korbit, Coinhako, and Independent Reserve. Key exchange performances varied: - **Binance** remained #1 but saw a 19.7% drop in volume, potentially due to negative press from a previous incident. - **OKX** rose to #2 with a 4.3% volume increase, maintaining a conservative listing strategy. - **Coinbase** saw a 2.3% volume rise and pursued an active, transparency-focused listing strategy. - **Gate's** volume fell 11.7% but it secured a key EU payment institution license. Other notable developments included Kraken launching tokenized stock perpetuals, Gemini exiting Europe and undergoing executive departures, and Crypto.com receiving conditional approval for a U.S. national bank charter.

marsbit03/17 10:35

RootData: February 2026 Cryptocurrency Exchange Transparency Research Report

marsbit03/17 10:35

Crypto Bear Market Startup Guide Part 1: Pre-Market Price Spread Market for Tokenized Stocks

"Encrypted Bear Market Startup Guide Part 1: Pre-IPO Stock Price Arbitrage Market" Despite the challenges of a crypto bear market, over 80% of startups that raised seed rounds in 2022 are still building. This period can foster focus on product development and survival skills. This series explores potential business opportunities, starting with the pre-IPO stock price arbitrage market. This market bridges crypto and traditional finance, with major stock exchanges and crypto platforms participating. The upcoming 2026 "IPO boom," featuring companies like OpenAI, Anthropic, SpaceX(xAI), and crypto exchanges, is driving demand for pre-IPO trading. Platforms like PreStocks, Jarsy, and Tessera have emerged, offering more flexible trading than traditional venues like Hiive. Significant price discrepancies exist for the same stock across different pre-IPO platforms. For example: - Kalshi shows a $148 (37%) difference between PreStocks ($397) and Jarsy ($545). - Polymarket has a $94 (50.5%) spread between PreStocks ($186) and Jarsy ($280). - SpaceX(xAI) has a $75 (12.7%) gap between PreStocks ($666) and Tessera ($591). This creates an opportunity for a new platform to act as an arbitrage marketplace for these price differences. The potential business model could include trading fees, LP fees, and profiting from the platform's own arbitrage positions, though current market liquidity remains in the millions.

marsbit03/16 02:16

Crypto Bear Market Startup Guide Part 1: Pre-Market Price Spread Market for Tokenized Stocks

marsbit03/16 02:16

Crypto Bear Market Startup Guide Part 1: Pre-Market Price Spread Market for Tokenized Stocks

The article "Crypto Bear Market Startup Guide Part 1: Pre-IPO Stock Price Difference Market" discusses entrepreneurial opportunities during a crypto bear market, focusing on the emerging niche of pre-IPO stock price difference markets. It begins by challenging the notion that bear markets are beneficial for building, citing data showing over 80% of crypto startups from the 2022 bear market are still active, suggesting that focused development and survival skills can thrive in downturns. The core analysis highlights the significant price discrepancies for pre-IPO stocks of companies like Kalshi, Polymarket, and SpaceX(xAI) across different crypto-based trading platforms such as PreStocks, Jarsy, and Tessera. For instance, Kalshi's pre-IPO price shows a $148 (37%) difference between PreStocks ($397) and Jarsy ($545). Polymarket's price gap is $94 (over 50%), and SpaceX has a $75 (12.7%) difference. The author argues this demonstrates a clear market need for a unified platform that bridges these price gaps across traditional and crypto pre-IPO markets, acting as a liquidity bridge. The proposed business model for such a "pre-IPO price difference market" would likely generate revenue through trading fees, LP fees, and arbitrage on the platform's own capital. The piece positions this as a promising venture for the anticipated 2026 IPO boom.

Odaily星球日报03/16 02:10

Crypto Bear Market Startup Guide Part 1: Pre-Market Price Spread Market for Tokenized Stocks

Odaily星球日报03/16 02:10

Ondo and Binance Join Forces to Broaden Tokenized Stock Investment Channels for Hundreds of Millions of Binance Users

Ondo Finance has partnered with Binance to list its tokenized U.S. stocks and ETFs on the exchange, providing access to hundreds of millions of Binance users globally. Ten tokenized assets—including Apple (AAPLon), Google (GOOGLon), Tesla (TSLAon), NVIDIA (NVDAon), and Invesco QQQ Trust (QQQon)—are now available on Binance Alpha. Since its launch in September 2025, Ondo Global Markets has reached over $550 million in total value locked (TVL) and facilitated more than $11 billion in cumulative trading volume. The tokens provide economic exposure to traditional equities but are not available to U.S. users. They are regulated as securities in certain jurisdictions and come with associated risks, including market volatility and potential loss of investment.

marsbit02/24 14:37

Ondo and Binance Join Forces to Broaden Tokenized Stock Investment Channels for Hundreds of Millions of Binance Users

marsbit02/24 14:37

MEXC and Ondo Finance Expand Tokenized Stock Partnership With 17 New Spot Pairs and Zero-Fee Trading

MEXC and Ondo Finance have expanded their tokenized stock partnership by adding 17 new spot trading pairs with zero-fee trading for the first 30 days. The new pairs include tokenized U.S. equities from sectors such as technology, healthcare, and finance. All tokens are ERC-20 assets on Ethereum, denominated in USDT, and supported by MEXC’s market-making technology for liquidity. This marks the ninth phase of collaboration between the two companies, building on MEXC’s initiative launched in September 2025 to offer tokenized traditional assets. The expansion aims to provide MEXC’s 40 million users with diversified exposure to real-world assets within a digital trading environment, reducing barriers and improving accessibility to traditional markets.

TheNewsCrypto02/13 11:58

MEXC and Ondo Finance Expand Tokenized Stock Partnership With 17 New Spot Pairs and Zero-Fee Trading

TheNewsCrypto02/13 11:58

Trading Volume Hits New Highs Repeatedly, Why Is Kalshi's Pre-IPO Stock Price Experiencing a Tale of Extremes?

Amidst a declining broader market, the prediction market sector has shown remarkable resilience, with trading activity hitting record highs. Kalshi, the largest regulated prediction market platform in the U.S., reached over $9.5 billion in trading volume in January, ranking first in the sector and setting a new monthly record. This has sparked renewed discussions about the fair pre-IPO share price of Kalshi, which is poised to become the "first prediction market stock." Currently, significant price discrepancies exist on crypto-based pre-IPO trading platforms: PreStocks lists Kalshi shares between $364 and $369, while Jarsy shows a price of around $504. In traditional markets, Nasdaq Private Market prices shares at approximately $320, and Hiive at $358. Kalshi completed a Series E funding round last year at a $11 billion valuation. Based on this, the reasonable pre-IPO share price range is estimated to be between $320 and $358. However, considering Kalshi's dominant market share and January volume nearing the entire prediction market's size from October last year, its implied valuation could be at least $15 billion. This would adjust the reasonable share price range to approximately $320–$423. Thus, Jarsy's current pricing appears high, while PreStocks may present arbitrage opportunities. With 2026 being a major year for global sporting events, Kalshi's annual revenue potential is significant, likely exceeding earlier estimates for competitor Polymarket, which could further drive up its pre-IPO valuation in the future.

比推02/11 15:25

Trading Volume Hits New Highs Repeatedly, Why Is Kalshi's Pre-IPO Stock Price Experiencing a Tale of Extremes?

比推02/11 15:25

Kalshi Trading Volume Continues to Break Records, What Is the Reasonable Pre-Market Stock Price?

Amidst a recent market downturn, the prediction market sector has shown remarkable resilience. Kalshi, the largest regulated prediction market platform in the US, reached a record single-month trading volume exceeding $9.5 billion in January, making it the sector leader. This surge has sparked renewed interest in pricing its pre-IPO shares. Significant price discrepancies exist across different pre-IPO trading platforms. On PreStocks, Kalshi shares are priced between $364 and $369. On Jarsy, the price is notably higher at around $504. In contrast, traditional private markets like Nasdaq Private Market and Hiive list shares at approximately $320 and $358, respectively. The analysis suggests a reasonable pre-IPO share price range for Kalshi is between $320 and $423. This is based on its last private funding round valuation of $11 billion and an estimated implied valuation of at least $15 billion, supported by its surging trading volume which now nearly equals the entire prediction market's size from October of the previous year. The article concludes that Jarsy's current price appears high, while PreStocks may present a potential arbitrage opportunity. Furthermore, with 2026 being a major year for global sporting events, Kalshi's annual revenue potential is seen as substantial, potentially exceeding estimates for competitor Polymarket, which could lead to further increases in its pre-IPO valuation.

Odaily星球日报02/11 10:44

Kalshi Trading Volume Continues to Break Records, What Is the Reasonable Pre-Market Stock Price?

Odaily星球日报02/11 10:44

What Are the Key Challenges in Robinhood's Advancement of Tokenized Stocks?

Robinhood's push into tokenized stocks faces a key challenge: accurately reflecting corporate actions like stock splits and dividends on-chain. While blockchain-based tokenization promises real-time synchronization and transparency, Robinhood’s custom contracts on Arbitrum deviate from standard ERC-20 logic, causing significant data misinterpretations by third-party platforms. High-yield ETFs with frequent return-of-capital distributions and reverse stock splits require dynamic rebasing mechanisms that adjust token supply to reflect underlying NAV erosion or share consolidation. However, external data aggregators using conventional ERC-20 models overestimate circulating supply and market cap—sometimes by 10x to 100x—because they fail to capture these off-ledger adjustments. Of the 21 mismatched tokens identified, reported supply was inflated by 56%, with ~90% of errors stemming from dividend-driven NAV adjustments and the rest from reverse splits. Unlike Solana’s Token-2022 standard—which natively supports UI-scaling extensions—EVM chains lack a rebasing standard, forcing issuers like Robinhood and xStocks to use custom implementations. A proposed ERC-8056 standard aims to create a unified interface for corporate actions on Ethereum, which would improve interoperability and data accuracy across platforms.

marsbit01/30 06:47

What Are the Key Challenges in Robinhood's Advancement of Tokenized Stocks?

marsbit01/30 06:47

SEC reaffirms tokenized stocks must follow existing securities laws

The U.S. SEC reaffirmed that tokenized stocks must comply with existing federal securities laws, regardless of whether they are issued on-chain or off-chain. The regulator emphasized that all securities must be registered unless an exemption applies. Tokenized stocks fall into two categories: issuer-sponsored and third-party sponsored, each offering different rights and protections. Wall Street firms, including Citadel and JPMorgan, opposed broad exemptions for DeFi platforms handling tokenized securities, warning that such exemptions could undermine investor protection and cause market disruptions. They called for DeFi platforms to be regulated similarly to traditional financial institutions. Despite opposition from traditional finance, the DeFi sector has seen significant growth, with nearly 300,000 holders and total traded value approaching $1 billion. The industry continues to advocate for certain exemptions, and the final regulatory framework may reflect a compromise between these opposing views.

ambcrypto01/30 05:08

SEC reaffirms tokenized stocks must follow existing securities laws

ambcrypto01/30 05:08

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