The cryptocurrency market has been a bit boring recently, leading to rumors of a "colturbate season" shifting to the US stock market. The 600% surge in Coinbase's IPO has also been talked about by cryptocurrency circles. The stock tokenization that has only been heard of for many years suddenly landed and cashed out yesterday. Cryptocurrency exchanges Bybit and Kraken simultaneously announced the launch of xStocks' stock tokens, and traditional brokerage Robinhood also launched its own stock tokens. xStocks' stock tokens are issued by the company "Backed". They are a type of token issued on the Solana chain. Backed will be responsible for entrusting the real stocks behind the tokens. The stock tokens of Bybit and Kraken are all spot goods. Robinhood does everything by itself, and manages the stocks by itself. The initial tokens will be issued on Arbitrum, and users can trade spot and perpetual contracts. The tokenization of stocks is not a new narrative. People who are a little experienced in the cryptocurrency circle must have heard of "STO", which is basically the same concept. Now retail investors can directly enter the market to buy and sell US stocks with USDT, breaking many investment restrictions. The funds in the cryptocurrency circle can almost seamlessly connect to US stocks. Affected by this news, the SOL and ARB coins benefited the most. Both coins rose by nearly 5% yesterday. As for the Solana ecosystem, xStocks directly brings the DEX and DeFi platforms that have been dormant for a while back to the users. For the on-chain ecosystem that is beginning to decline due to the narrative of meme coins and lacks vitality, this wave of stock tokens can be said to be a timely help. 〈MICA Daily｜On-chain stock trading starts! Holding USDT can directly trade 1:1 custodial US stock tokens〉This article was first published in "Blockchain".