RootData Releases "Map of Tokenized Stock Exchange Providers and Licenses"

ChainCatcher reports that RootData, a tokenized asset platform, has released a "Map of Tokenized Stock Exchange Suppliers and Licenses," which systematically analyzes the supplier, brokerage, and regulatory licenses of major exchanges such as Binance, Gate, Bitget, and Bybit for three types of products: real stocks, TradeFi stocks, and tokenized stocks. The map shows that exchange-traded stock assets have gradually formed a three-tiered architecture: real stock spot trading mainly relies on regulated brokerage firms for securities execution and custody; TradeFi stocks are primarily based on CFDs/Perps; and tokenized stocks are mainly supported by solutions such as Ondo and xStocks. Specifically, Binance currently provides real US stock/ETF exposure through Nest Trading with Alpaca Securities and has launched the Ondo stock token in the Alpha zone, with plans to launch bStocks later; Gate has established a dual supplier system with xStocks and Ondo; Bybit currently mainly uses the Backed Finance (xStocks) solution; and Bitget provides 1:1 US stock/ETF tokenized products through its own Reality (rToken) brand. RootData believes that as the tokenized stock market heats up, competition among exchanges is gradually shifting from simply launching products to underlying brokerage, real securities custody, and regulatory licensing capabilities. Licensed brokers such as Alpaca Securities are strengthening their infrastructure role in multiple platform ecosystems.