There are currently three models of stock tokenization being explored through PK: xStock， Third party issuance+multiple exchanges, extensive access to DeFi, extremely fast ecological expansion speed, testing team capabilities Robinhood， Licensed securities firms adopt a self built chain and self operated issuance model, with strong compliance Contracts for Difference (CFD), which provide trading of US stock prices through systems such as MT5, are not widely accepted What new models will Coinbase, Hype, Binance, HashKey, Sui, and others promote in the future? It is worth paying attention to This article provides a detailed analysis of the current status and challenges of several models, as well as an overview of the reasons for the attempts and failures of stock tokenization in the previous cycle. It is recommended for reading. https://mp.weixin. (qq.com)/s/lO1r3oQ9G-tNcJZH9MQ_og