#资产代币化 The US financial system is undergoing a major "on-chain migration" operation. DTC has approved tokenized stocks, bonds, ETFs, and the OCC has clarified that digital asset institutions can equally apply for banking licenses — these are not just regulatory relaxations, but a formal reservation of seats for blockchain assets in traditional finance.

From a trading perspective, what does this mean? Liquidity fragmentation is about to be broken. When traders can directly trade tokenized core assets on-chain without going through cumbersome clearing processes, market momentum will accelerate, and price discovery efficiency will improve. Conversely, this also requires traders to be more sensitive to risks — increased liquidity also means more participants in leverage games.

The key issue is the time window. DTC's tokenization services are not expected to be officially launched until the second half of 2026 at the earliest. Those entering now are essentially betting on opportunities during this process. My experience is that expectations and hype before policy implementation are often the craziest and easiest to fall into traps. During this stage, choose your trading partners very carefully — prioritize those with genuine risk control systems, rather than simply chasing policy dividends with aggressive players.

Remember, policy friendliness does not mean risk disappears; it only changes the nature of the risk. Practical experience shows that this is especially true this time.