Crypto & TradFi Crossover Products | Round Table Clip

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The other sort of thing that's kind of making its way through these different platforms now is Kraken announced their roll out of US equity trading. Um so we're kind of seeing the reverse now where you know I think there's a lot of expectation for you know trady institutions and brokerages to offer like crypto services. Now we're seeing the inverse where you know crypto focused um trading platforms are offering you know equities and like more brokerage-l like features which is interesting. I'm curious if you guys have any like big takeaways there. I know we've talked recently about this idea of like trading stocks on chain. I guess the big question is like does that matter if you know all of these crypto platforms are going to offer their own

you know equities trading and and other market trading just on their platforms alongside the crypto. A quick take I think it's the same thing. We we talked about this before, but like to get access to equities, it's already relatively easy in the US. And then maybe you're trying to branch into like a wider market like with crypto, like young crypto holders who maybe don't own any equities. Um but at the end of the day it's you know onchain I mean Kraken and stuff is still going to be limited to certain markets for the US stocks whereas onchain I guess anybody around the world with a wallet can purchase these um like from packed or whatever can purchase these um chains. I think it's more like, you know, we and we a few weeks ago we also talked about um

NASDAQ looking to go like 24/7 or 245 with their trading and I think just as as the demand for like 247 global access grows um you know it doesn't matter where you are you know you want like a seamless all-in-one trading app you know to have everything in one nice package. So I think you know for Kraken and probably some of the others it's um you know expanding into equities is like a natural step for them and but I think it you know more excitingly it but it like paves the way for tokenized assets on that platform. So even though it might seem like oh these you know centralized exchanges are coming to eat the lunch of onchain equities they can actually be

the gateway that opens up more tokenized assets to the masses. Yeah that's that's also my thing. I think um whenever sexist start doing something then I imagine that more and more decks will focus on listing those assets on their I guess not listing because it's mostly permissionless but for purpes listing for regular dexes it might just be that more pe more people want to tokenize it. Um I think you probably want to focus on I know we mentioned Kroken and I've historically said that Coinbase is slow.

I think you probably want to focus on Coinbase in this scenario though. Um because they have base, I imagine they're going to try and onboard as many equities as they can. And tech like on the technical side, it makes sense. Um they hold a lot of the USDC for Coinbase on base. So it should like they I assume they already have a process for accounting and um ensuring that this works out. So they it should be relatively um trivial for them to make this happen. If they actually do make it happen over the next year, we'll see. I like I said um they tend to take their time, but we'll see. For for me, the

main takeaway is like the convergence between like fintech and crypto. Like there's been talk over the past year of Robin Hood competing with Coinbase and other crypto platforms. And I think these cements like this convergence where Robin Hood was like venturing into crypto more and more and now you see centralized exchanges venturing on the trady side with stocks and ETFs and stuff like that. So I think over time you will see both of these platforms kind of having the same offerings and competing on the same ground. Uh and my other takeaway is just what what what does this mean for platforms like backed finance who offer like tokenized stock

like for instance backed offers tokenized coin on base like if coin bears if if Coinbase starts offering like tokenized coin like what does this mean for packed like do they still have a n do they become like um like are their services no longer needed?