Nasdaq vs. Coinbase: Who will define the future of tokenized stocks in the U.S.? Dr. Xiao Feng's in-depth analysis: Two paths for U.S. tokenized stocks—Coinbase advocates for decentralization and settlement upon trading, but this could mean half of Wall Street loses their jobs. Meanwhile, Nasdaq's approach retains traditional institutions like clearing and registration, aiming to safeguard the Wall Street system and compete for dominance over future financial infrastructure. Source: Wanxiang Blockchain