Alltoscan 價格ATS

🔥 股票上链，币圈要变天？ “股票代币化”不是小打小闹，而是TradFi和DeFi的硬核融合！从市场结构、流动性、DeFi生态、监管到基础设施，五个维度带你看清这场变革有多狠，机会在哪，坑又在哪！ 1. 市场结构：24 × 7 真正打通 TradFi 与 DeFi Robinhood 6 月末在 Arbitrum 先行推出“Stock Tokens”，年底计划扩展到“数千只”并在自研 L2 上线，明确瞄准 24 × 7 交易和跨链自托管。INX 与 Backed 上线 bNVDA（英伟达）等 ERC-20 股票代币，同样强调“周末可交易、钱包自托管”。这些尝试意味着股票市场与加密市场的交易节奏、交易介质正加速融合。 2. 流动性与资金流：RWA 吸血还是活水？ 结论：短期对部分高 Beta 代币可能“抽血”，但长期会把 TradFi 深度、做市网络与资金池一并带进链上，放大整个加密总市值。 3. DeFi 生态的“质变” 新型抵押品与杠杆结构： -- 股票代币可在 Aave、Morpho 等协议中抵押放贷，孵化“RWA 本位”杠杆策略。 -- 跨资产保证金：同时持有 BTC 与 bNVDA，可在单一保证金账户对冲或套保。 原生可组合衍生品： -- 链上 Covered Call、全链 ETF、自动化股息再投资策略（Auto-DRIP）都可以以智能合约形式实现。 -- 周末定价差 → 产生期现、周末/周中 Basis 套利机会。 新的 AMM & Order-book 模式： -- Permissioned 池：只允许通过 KYC 的钱包与股票代币交互，以满足证券法；Uniswap v4 hook、Sei v2 双层订单簿将成为热门落地点。 4. 监管格局：合规链与“灰色 DeFi”分水岭 欧盟：DLT Pilot Regime 首批仅 3 家 DLT 基础设施获批，ESMA 正建议将试点制转为永久法规。一旦落地，欧系券商可批量发行可转让股票代币，配合 MiCA 形成一套完整牌照体系。 美国：证券属性明确，发行须走 Reg D/Reg A＋ 或 ATS。Robinhood 先选欧洲用户试水，侧面说明美国仍在观望 。 “灰色”路径：镜像合约/合成资产（Synthetix、BitMEX 早期股指合约）绕过实物 custodian，但面临监管关停前例（Binance Stock Tokens 2021）。 趋势判断：合规层 + 公链应用层分离——合规发行、链上自由组合，反而加速了主流公链成为“证券结算层”的可能性。 5. 基础设施升级与新机会 股票代币化不是简单把现有股票“搬家”到链上，而是 把传统金融的深度流动性、现金流与法律框架直接注入加密世界。它带来： 更高效的全球 24 × 7 资本市场 DeFi 从纯加密抵押向“现实+加密”双轮驱动 监管快速迭代，推动“合规 DeFi”雏形成型 短期内，山寨币流动性或被稀释；长期看，整个链上交易市场的天花板被抬高，传统与加密金融将在同一条链上完成流动性与风险的定价与转移，真正实现“资产无国界、交易无时差”。

Figure @FigureMarkets registers a S-1 for a digital blockchain certificate company "FIGURE CERTIFICATE COMPANY" with the #SEC - the first blockchain notes. People this is the first ever digital security registration!!!!! Products include: Figure Transferable Certificates ∙     Issued as digital representations of FCC’s face-amount certificates that can be transferred through peer-to-peer transactions (as described below) and through transactions on a registered alternative trading system (“ATS”). ∙     Issued, surrendered, and/or transferred using blockchain technology. ∙     Interest rate applicable to all Certificates is the overnight Secured Overnight Financing Rate (“SOFR”) less 50 basis points, with a minimum rate of 0.00%. ∙     Simple interest accrues daily and is credited daily to the Certificate holder of record (determined on each day’s record time). ∙     Accrued interest is paid monthly in U.S. dollars that will automatically be reinvested in additional Certificates, unless an investor opts out of the automatic reinvestment. ∙     Interest payments are rounded down to the nearest penny. ∙     Matures 20 years from the issue date of a Certificate at the face amount ($0.01/certificate), plus accrued interest (minus any applicable expenses or fees). Figure Installment Certificates ∙     Issued as digital representations of FCC’s face-amount certificates. ∙     Issued and/or surrendered using blockchain technology. ∙     Issued periodically at a minimum price of $1000/certificate and a maximum price of $1 million/certificate. ∙     Additional installments equal to 25% of the initial payment. ∙     Interest rate applicable to all certificates is the overnight SOFR rate with a minimum rate of 0.00%. ∙     Simple interest accrues daily and is credited daily to the Certificate holder. ∙     Accrued interest is paid monthly in the form of U.S. dollars, unless an investor chooses to automatically add interest payments to their certificate’s principal amount. ∙     Interest payments are rounded down to the nearest penny. ∙     May be surrendered at any time at the face amount (the aggregate of the initial price and all installment payments/certificate, plus any interest added to principal/certificate, minus any withdrawals), plus accrued interest (minus any applicable expenses or fees). ∙     Matures 20 years from the issue date of a certificate at the face amount (the aggregate of the initial price and all installment payments/certificate, plus any interest added to principal/certificate, minus any withdrawals), plus accrued interest (minus any applicable expenses or fees).

Figure @FigureMarkets (a leading #RWA company) registers a S-1 for a digital blockchain certificate company "FIGURE CERTIFICATE COMPANY" with the #SEC - the first blockchain notes. People this is the first ever digital security registration!!!!! Products include: Figure Transferable Certificates ∙     Issued as digital representations of FCC’s face-amount certificates that can be transferred through peer-to-peer transactions (as described below) and through transactions on a registered alternative trading system (“ATS”). ∙     Issued, surrendered, and/or transferred using blockchain technology. ∙     Interest rate applicable to all Certificates is the overnight Secured Overnight Financing Rate (“SOFR”) less 50 basis points, with a minimum rate of 0.00%. ∙     Simple interest accrues daily and is credited daily to the Certificate holder of record (determined on each day’s record time). ∙     Accrued interest is paid monthly in U.S. dollars that will automatically be reinvested in additional Certificates, unless an investor opts out of the automatic reinvestment. ∙     Interest payments are rounded down to the nearest penny. ∙     Matures 20 years from the issue date of a Certificate at the face amount ($0.01/certificate), plus accrued interest (minus any applicable expenses or fees). Figure Installment Certificates ∙     Issued as digital representations of FCC’s face-amount certificates. ∙     Issued and/or surrendered using blockchain technology. ∙     Issued periodically at a minimum price of $1000/certificate and a maximum price of $1 million/certificate. ∙     Additional installments equal to 25% of the initial payment. ∙     Interest rate applicable to all certificates is the overnight SOFR rate with a minimum rate of 0.00%. ∙     Simple interest accrues daily and is credited daily to the Certificate holder. ∙     Accrued interest is paid monthly in the form of U.S. dollars, unless an investor chooses to automatically add interest payments to their certificate’s principal amount. ∙     Interest payments are rounded down to the nearest penny. ∙     May be surrendered at any time at the face amount (the aggregate of the initial price and all installment payments/certificate, plus any interest added to principal/certificate, minus any withdrawals), plus accrued interest (minus any applicable expenses or fees). ∙     Matures 20 years from the issue date of a certificate at the face amount (the aggregate of the initial price and all installment payments/certificate, plus any interest added to principal/certificate, minus any withdrawals), plus accrued interest (minus any applicable expenses or fees). FCC currently uses the @provenancefdn Provenance Blockchain as the primary public blockchain and purchasers of Certificates may initially hold their wallets on the Provenance Blockchain. However, FCC may also use the #Polygon, #Aptos, #Avalanche, #Arbitrum, #Ethereum, #Solana, and #Base and other suitable blockchains for accounts upon request and subject to eligibility. The transfer agent’s blockchain network suitability framework is described in greater detail in the section “Suitability for Blockchain Networks” and includes certain key standards such as redundancy qualities, continuous uptime, block time, and transaction fees. Potential and existing Certificate holders must contact FCC’s transfer agent to determine eligibility to hold digital representation of Certificates on a blockchain other than Provenance and the availability of the other blockchain. Approval to hold a digital representation of a Certificate on a blockchain other than Provenance is subject to the sole discretion of FCC and its transfer agent. For more information regarding eligibility criteria for the available blockchain networks, see “Blockchain Network Suitability Framework.”

Ripple Labs, the leading blockchain company has initiated a dialogue with the U.S. Securities and Exchange Commission (SEC) to introduce greater regulatory clarity for digital assets. The company’s suggestion comes to Hester Peirce, who’s leading the newly formed Crypto Task Force by the SEC, who demanded public input for clear crypto tax rules. Crypto Mom Hester Peirce is willing to end the regulatory blockade created by the previous SEC administration under the leadership of Gary Gensler. Responding to this, Ripple slammed the Gary Gensler administration stating that it crypto administration was overly long, confusing, and not backed by any law. Notably, it also highlighted that the previous SEC administration relied on creating confusion among market participants to mask its failure to consistently uphold the law. In order to end the regulatory roadblock, blockchain startup Ripple Labs has made three proposals to the U.S. SEC in order to end any further confusion. As mentioned in our previous report, Ripple is working on a cross-appeal against the US SEC next month in mid-April, with the likelihood of a lawsuit settlement. Following the settlement, there’s a growing chance of having an XRP ETF and Ripple IPO launch by the end of 2025. Following the victory of Donald Trump in US Presidential Elections, the crypto regulatory landscape has been changing for the good as the Trump administration plans to bring several crypto-friendly policies in place. The SEC’s potential reversal of the Regulation ATS expansion may reduce compliance burdens on crypto exchanges and DeFi platforms, fostering greater innovation, as mentioned in our previous story.

The U.S. Securities and Exchange Commission (SEC) is making a significant move, changing its stance on crypto regulation. The acting chairman, Mark Uyeda, has instructed SEC staff to explore discarding a controversial proposal that would have required certain cryptocurrency firms to register as alternative trading systems. This move indicates a shift in regulatory priorities and marks a departure from the previous administration’s approach, which sought to impose stricter oversight on the crypto industry. In 2022, the SEC proposed extending the definition of alternative trading systems (ATS) to include some crypto companies. This expansion was initially designed to enhance regulatory oversight in the Treasury markets but later encompassed digital assets. Related: SEC Drops Multiple Lawsuits and Investigations Against Crypto Firms—Here’s the List The proposal faced immediate backlash from the crypto sector, which argued that such measures would impose excessive regulatory burdens, stifling innovation and growth within the industry. Many industry stakeholders viewed it as a heavy-handed attempt to restrict crypto market activity rather than a genuine effort to provide investor protection. Mark Uyeda has explained that linking Treasury market regulation with crypto oversight was an error. He acknowledged that the initial plan unfairly grouped two distinct financial sectors under a single regulatory system. Therefore, the SEC is now reassessing its approach, aiming to separate the oversight of government securities from cryptocurrency regulations. Uyeda has also called for renewed discussions with the Treasury Department, the Federal Reserve, and market participants to reevaluate the original regulatory adjustments for government securities trading platforms. This strategic shift reflects the broader changes within the SEC under its current Republican leadership. Earlier this year, the agency launched a crypto task force to revamp its policy on digital assets. Related: SEC Abandons Cumberland DRW Suit: Ripple Case Next? The SEC has also started dismissing or pausing several pending lawsuits against crypto firms. These actions indicate a more flexible stance, favoring engagement and dialogue over enforcement-heavy tactics. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.