CITIC Securities: With the explosion of US stock tokenization, the demand for IT transformation of securities firms is expected to accelerate

reported that CITIC Securities research indicates a concentrated outbreak of US stock tokenization, with Bybit, Robinhood, and Kraken simultaneously announcing the launch of US stock tokenization services. XBIT, in collaboration with xStocks, is expected to disrupt the industry with a "buy coins directly to US stocks" model that requires no KYC, intensifying competition in virtual asset trading services. Hong Kong is striving to build a global digital asset innovation center, with over 41 brokers having completed the upgrade to License 1 in the financial institutions actively deploying virtual asset trading services. As an incremental business, virtual asset trading services may be successively deployed by brokers in Hong Kong, potentially bringing over 10 billion in IT transformation needs. Meanwhile, US stock tokenization, as a pioneer in RWA, provides critical reference and driving force for the continuous deepening and implementation of the entire RWA ecosystem through its exploration and practice in compliance regulation, market expansion, and infrastructure construction. (Zhitong Finance)