All assets will be put on the chain.
This is not a slogan, but a migration that is happening.
1/ Dollar: The first asset on the chain
The story begins with USDT in 2014. Twelve years later, the stablecoin market has surpassed 300 billion dollars.
It proves that there is a real demand to move the value of the real world onto the chain.
2/ U.S. Debt and Funds
Three years ago, Wall Street generally scoffed at tokenized U.S. debt.
Today, three years later, the scale of tokenized U.S. debt has reached 13.5 billion dollars.
The strongest footnote is that BlackRock, the world's largest asset management company, has personally entered the field. In March 2024, it launched BUIDL on Ethereum, and within just a few weeks, it topped the list of the largest tokenized funds.
3/ Gold and Commodities
The growth curve starts to steepen here.
Tokenized Gold: In Q1 2026, the spot trading volume reached 90.7 billion dollars. In one quarter, it surpassed the entire year of 2025.
RWA Perpetual Contracts: In Q1 2026, it reached 524.8 billion dollars, more than twice the total for the entire year of 2025.
4/ Stocks: The latest migrants, with CEX driving the trend
As of March 2026, the scale of tokenized stocks is about 4 billion dollars, of which tokenized U.S. stocks have exceeded 1 billion dollars.
Behind this, centralized exchanges have put in a lot of effort. Taking @MEXC as an example, it did not just launch stocks indiscriminately, but instead broke down the act of "buying stocks" into three types of demand, providing answers accordingly.
▌RealStocks (Real Stock Holdings)
Prepared for those who want underlying ownership.
Eligible users can directly purchase and hold real shares of over 7,000 global stocks and ETFs, with the underlying provided by licensed brokers partnered with MEXC.
Holdings can receive corresponding dividends and distributions, with a very low threshold, participating from as little as 5 USDT.
▌Stock Futures (Stock Futures)
Leveraged instruments. Covering more than 300 underlyings, spanning U.S. stocks, Hong Kong stocks, Korean stocks, and Japanese stocks. Created specifically for financial report trends, macro surprises, sector rotations, and risk hedging. The leverage strategies that crypto users are most familiar with seamlessly transition into traditional stock volatility.
▌Tokenized Stock (Tokenized Stocks)
All-weather price exposure. More than 200 underlyings, traded directly in the spot market using USDT. Some products can even break through regular trading hours for U.S. stocks. It does not provide company ownership and voting rights, but gives you the two purest things: price exposure and volatility returns.
Why are CEXs so proactive?
The answer lies in their own anxieties. The narrative around altcoins has receded, with trading volume firmly tied to bull and bear cycles. CEXs urgently need new assets that can transcend these cycles. The global stock market is an ocean of assets worth trillions of dollars, and just attracting a small fraction could create a new growth curve.
5/ Conclusion
Calmly wrapping it up.
Assets that have been put on the chain are nothing compared to the traditional assets worth trillions of dollars globally. More worrisome is that many assets have gone on the chain but have not come to life—there are tokens but no trading; there is scale but no liquidity.
The direction has been determined, but this migration has only just begun.
#MEXC0808
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