NASDAQ's Digital Asset Strategy - NASDAQ has been involved in digital assets since 2021, launching the NASDAQ crypto index and further immersing in the space [1] - NASDAQ filed an application with the SEC for a proposed rules change to allow for the trading of tokenized stocks and ETPs [1] - The primary goal is to bridge the digital asset world and the traditional world, prioritizing investor-first principles [3] - NASDAQ aims to integrate tokenized assets into current market structures, applying current securities laws [7] Tokenized Assets and Market Impact - Tokenized shares will trade under the same ticker and CUSIP, fully fungible with their traditional counterparts, offering investors a choice in holding [5] - The trading of tokenized assets on NASDAQ aims to improve efficiency and enhance audit trails [12] - Near-term benefits include process efficiencies on the post-trade side, with potential for atomic instant settlement in the long term [13][14] - Mid-term benefits include collateral mobility for assets, enhancing capital efficiency by allowing equity to be used in collateral pools [15] - Tokenization enhances utility beyond the trade itself, with potential for better access for proxy and enhancements around corporate actions [17] Convergence of Traditional Finance (TradFi) and Decentralized Finance (DeFi) - The convergence of TradFi and DeFi is seen as a combination of traditional risk management, compliance, and regulation with the programmability of DeFi [36] - Stablecoins gained significantly in 2025, and their use in collateral management, along with tokenized treasuries, money market funds, and equities, could drive the next phase of adoption [37][38] NASDAQ's Infrastructure and Offerings - NASDAQ offers exchange technology, powering over 130 markets globally, including crypto markets using their matching engine technology [28] - NASDAQ has a crypto index and reference rates used globally for benchmarking [29] - NASDAQ acquired Calypso through the Adenza acquisition, integrating it with blockchain rails for collateral mobility [29] - NASDAQ offers data products and a surveillance business used globally to monitor markets for manipulation, including crypto markets [31][32]

Overview - Tokenized stocks bridge equities and blockchain [1] - The report focuses on fractional, fast, and global aspects of tokenized stocks [1]

Listing Announcement - BitMart announces the BM Discovery listing of Edel Finance (EDEL) [1] - Trading pair will be EDEL/USDT [1] - Trading is scheduled for November 20, 2025 at 3:30 AM UTC [1] Project Overview - Edel Finance is described as the global lending network for tokenized stocks [1] - Edel Finance aims to provide a transparent, efficient, and scalable securities lending infrastructure [1]

LATEST: ⚡ Ondo has received EU regulatory approval to offer tokenized stocks and ETFs across 30 European countries, tapping into a potential 500 million investors with regulated access to US markets directly onchain. https://t.co/FXdQcQFRAP ...

According to Cryptopolitan, Robinhood has announced a three-phase plan to gradually enable permissionless access to tokenized stocks. In the final phase, users will be able to withdraw tokenized equities to external wallets and use them freely across DeFi applications, including as collateral for lending and other on-chain activities. https://t.co/afoelE0B5h ...

🚨JUST IN: @ONDOFINANCE SECURES FULL EU APPROVAL TO EXPAND TOKENIZED STOCKS AND ETFS TO 30+ MARKETS ACROSS EUROPE ...

Core Insights - Bitget, the world's largest Universal Exchange (UEX), has launched new stock index perpetual futures for LLYUSDT, MAUSDT, and UNHUSDT, enhancing its Real World Asset (RWA) offerings for traders [2][4] - The new perpetual futures contracts are settled in USDT, feature a tick size of 0.01, and allow leverage of up to 10x, operating on a 24/5 trading schedule [3][4] - Bitget's stock futures segment has achieved over $3 billion in cumulative trading volume, indicating a strong demand for tokenized equity products [4][5] Trading Features - The perpetual futures contracts will be available for trading from Monday 12:00 AM to Saturday 12:00 AM (UTC-4), with hourly funding fee settlements [3] - A limited-time campaign offering a 90% reduction in trading fees for all stock futures contracts is running until January 31, aimed at making market access more affordable [5] Company Strategy - Bitget emphasizes transparency, security, and innovation in its derivatives ecosystem, with plans to evaluate upgrades based on user demand [6] - The exchange aims to bridge digital assets with global equities, providing a wider range of trading strategies [6] Company Overview - Established in 2018, Bitget serves over 120 million users and offers access to millions of crypto tokens, tokenized stocks, ETFs, and other real-world assets [8] - The platform features AI-powered trading tools and supports interoperability across multiple blockchains [8] Partnerships and Initiatives - Bitget is actively driving crypto adoption through strategic partnerships, including its role as the Official Crypto Partner of LALIGA and collaboration with UNICEF for blockchain education [9][10]

Core Insights - Robinhood's stock is expected to open higher following strong earnings and revenue that exceeded forecasts, alongside the announcement of the CFO's departure in Q1 next year [1][3] Financial Performance - In Q3, Robinhood reported earnings per share of $0.61, surpassing the Wall Street expectation of $0.53 [1] - Total net revenue reached $1.27 billion, marking a 100% increase year-over-year and exceeding the forecast of $1.2 billion [1] Revenue Breakdown - Transaction-based revenues saw a significant boost from cryptocurrency, which rose over 300% to $268 million, although it fell short of the expected $287.2 million [2] - Equities revenue increased by 132% [2] Leadership Changes - CFO Jason Warnick will retire next year, with insider Shiv Verma set to take over the role [3] Stock Performance - Robinhood's shares have surged nearly 40% since joining the S&P 500 in September and are up 280% year-to-date, making it the top performer in the S&P 500 this year [3] Product Development - The stock rally has been driven by new product launches, including tokenized stocks in Europe, prediction markets, and crypto staking, aimed at increasing customer wallet share [4] - Analysts expect October trends to exceed Q4 expectations, highlighting the rapid growth of the prediction markets launched earlier this year [4]

🚨JUST IN: @ONDOFINANCE PARTNERS WITH BX DIGITAL TO ENABLE REGULATED TRADING OF TOKENIZED STOCKS AND ETFS ACROSS EUROPE ...

Coinbase increased its Bitcoin holdings by $299 million in Q3 through weekly purchases, now holding 14,548 BTC. CEO Brian Armstrong said Coinbase is integrating prediction markets, tokenized stocks, and other products as part of its plan to become an “everything app” for finance, adding that the company remains confident in pursuing acquisitions.https://t.co/7jKOVCPaCG ...