#传统资产代币化 Seeing Ondo expand to over 100 tokenized US stocks and ETFs on the BNB Chain, with TVL surpassing $400 million, I was reminded of the ICO boom in 2017. Back then, we were all immersed in the dream of "blockchain transforming everything," but most projects ultimately turned into vapor coins. Looking back now, the path of traditional asset tokenization seems more solid—because it is supported by real US custodians, regulated under SEC frameworks, and most importantly, it addresses real issues: you can buy Tesla stock for just $20, and trade 24/5 without restrictions.

This makes me think of the skepticism towards RWA (Real World Assets) a few years ago. At that time, concepts were flying everywhere, but few actually materialized. Since September, Ondo has become the world's largest tokenized securities platform, with $1 billion in on-chain trading volume. These numbers aren't just hype—there's real demand behind them.

What's the difference? Early on, we pursued technological revolution; now, we pursue practical value. Tokenized US stocks don't require you to believe in a certain vision—they are simple, affordable, and tradable 24/7, providing global asset liquidity. This might be the real entry point for blockchain to transform traditional finance. At least this time, what we see isn't a bubble but structural mechanism innovation.