Recent months have seen significant developments in the asset tokenization market, impacting both financial instruments and the domain name sector.
eToro Launches Tokenized Stocks
eToro has announced plans to launch tokenized versions of the 100 most popular US-listed stocks and ETFs as ERC-20 tokens on the Ethereum blockchain. These assets will be tradable 24/5, and eToro users will eventually have the ability to transfer them to self-custody wallets or DeFi protocols, part of a long-term strategy for user sovereignty. CEO Yoni Assia believes tokenization can remove financial barriers and make investing more accessible.
InternetX to Tokenize Domains
InternetX, a major domain registrar, has announced plans to tokenize its portfolio of 22 million domains using the Doma Protocol. This allows InternetX customers to convert traditional web domains into blockchain-based tokens. This transition is expected to unlock new use cases like crypto trading and fractional ownership. This move aligns with recent steps in domain tokenization from companies like Unstoppable Domains and ENS.
Tokenized Money Funds Gain Attention
Tokenization of money market funds is emerging as a strategic move to preserve the relevance of cash-like assets amid rising stablecoin adoption. Institutions such as Goldman Sachs and BNY Mellon have begun tokenizing shares of money market funds, enhancing their versatility and introducing new financial utilities. JPMorgan's strategist Teresa Ho indicates that tokenized money market funds illustrate how traditional instruments can evolve in the digital era.
Current asset tokenization initiatives by eToro and InternetX highlight the growing interest in integrating traditional financial instruments with blockchain technologies. Forecasts suggest significant growth potential in this sector.
