As traditional finances become more intertwined with blockchain technology, a cracking director said that it simply does not reduce traditional financial products on a blockchain it will not reduce and not the end goal for tokenization.
Mark Greenberg, the global head of Kraaken’s Consumer Business Unit, said Cointelegraph that tokenized shares should go beyond the replication of Wall Street Systems Onchain. Instead, he said that they had to unlock new levels of accessibility, programmability and worldwide reach.
He argued that it is a chance to reconsider fundamentally how worldwide markets function when it comes to accessibility, programmability and access to users to Legacy tools.
“Tokenized shares can’t just be” Wall Street on a blockchain. ” The point is missing, “Greenberg Cointelegraph said.
Rebuild financial assets to be as fluent as crypto
Greenberg said that most legacy settings underestimate how transforming the shift could be. “This is not just about packaging old assets in new technology,” Greenberg told Cointelegraph. “The point is to rebuild financial access to be as fluent and programmable as a crypto.”
He added that retail users should have access to global markets in real time, with tools that are once reserved for hedge funds. For developers, Tokenized shares offer a platform for building applications, just like Stablecoins and Defi protocols today.
When demanding the role of regulations in tokenization, Greenberg Cointelegraph said that Kraken believes that the future of capital markets lies in programmable and conforming open infrastructure.
On June 30, Kraken worked with Backed Finance to launch Xstocks, a product with which users can trade more than 60 tokenized shares.
The product, so that users can act shares such as Netflix, Meta and Coinbase, went live on Kraken, Bybit and various decentralized finance (Defi) protocols on Solana.
“With tokenized shares such as Xstocks, we build basic layer systems that are permissionless and compiled, while we ensure that the assets itself adhere to legal frameworks,” Greenberg told Cointelegraph.
He said that this approach gives users decentralization without indicating the protection on which supervisors are aimed. “Regulation must evolve to support this balance, not to suppress it,” called Greenberg.
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Stock tokenization on Ethereum
Apart from Kraken, the Etoro trading platform is planning to launch tokenized shares. However, unlike Kraken, that the Solana network uses, the company will token 100 shares of the United States on Ethereum.
While companies are racing to token shares, Ethereum groups work together with regulators to create industrial standards for tokenized effects.
On July 21, Ethereum-Uitgede organizations met the Securities and Exchange Commission to discuss standards that bridge onchain technology with traditional legal requirements.
https://www.youtube.com/watch?v=RY9MI57PBJS
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