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jcfrei • yesterday at 6:22 PM • 6 replies • view on HN

this won't really matter much because even if tokenization of stocks is banned you can just create perpetual futures that settle on the price of the real stock. so if you are a crypto only investor (due to your country preventing open capital markets or other restrictions) you will put your money there and then some intermediaries with access to both tradfi markets with actual stock and access to the crypto perpetual futures markets will provide the liquidity and keep prices in sync.


Replies

killerstorm • yesterday at 6:55 PM

Perpetuals are OK for trading, but not good for holding as a long-term investments - usually you need to pay interest on any open position.

I guess the appeal of tokenized stock is to do things regulators don't want you to do (e.g. evade capital controls). Otherwise one can just access market directly through a broker.

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trollbridge • yesterday at 7:11 PM

In the U.S. things like this (eg Contract for Differences) are illegal, and the SEC regulates these sort of things.

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Muromec • yesterday at 8:36 PM

Cyberpank is having a really nice and modern mobile app for your bank but all the interface doesn't give you any hint that transfering money out of the country is even possible.

decidu0us9034 • yesterday at 9:15 PM

Sure but wasn't the whole pitch of tokenization, RWA, all of this cycle's narrative, that crypto could function as an investment vehicle for the normie retirement account holder, that it wasn't just derivatives and speculating on short-term price movement?

chrisco255 • yesterday at 7:58 PM

Perps aren't the same and they carry liquidation risks.