Tokenized stocks risk liquidity and revenue fragmentation: Research
TradFi views the breakup of its previously consolidated, centralized liquidity as a “serious structural threat,” said Tiger Research director Ryan Yoon....
Key takeaways
- 1SEC's innovation exemption allows third-party exchanges to list tokenized stocks without issuer approval, risking liquidity fragmentation across multiple blockchain platforms.
- 2Tokenized stocks currently represent only 4.4% of total real-world asset onchain value, but RWA market grew 420% since 2025.
- 3Liquidity dispersal across venues creates price discrepancies, increases slippage on large orders, and degrades overall market efficiency.
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Why it matters
For Indian retail investors, tokenized stocks could offer 24/7 trading, fractional ownership, and lower costs, but fragmented liquidity and offshore revenue flows may weaken domestic market competitiveness and create price tracking risks. Regulatory clarity on scope will determine whether this becomes a practical alternative to traditional equity trading.
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