Delphi Digital: Tokenized Stock Competition Shifts to Distribution and Transaction Costs

Techub News reports that the cryptocurrency research institution Delphi Digital posted on platform X, stating that the tokenized stock business is shifting towards competition in distribution. Tokenizing stocks has become straightforward, with most issuers purchasing underlying stocks through brokers and minting tokens, allowing buyers to choose between tokens that offer nearly identical exposure. Whoever can display tokens to the most investors will take the lead.

Exchanges have an advantage in this competition due to their existing trader bases. Binance's bStocks and Kraken's xStocks are two of the top three platforms, and together with Ondo, they dominate the majority of the wrapped stock market share.

Widespread listing only helps when token transaction costs are low, and investors will choose the version offering the best price. The winning issuer will combine the broadest coverage with the deepest market liquidity. (@Delphi_Digital)