New Developments in US Stock Tokenization: Major Internet Brokerage Firms May Launch Exclusive L2

As attention on the US dollar stablecoin grows, some companies have begun to focus on the tokenization of US stocks. Recently, a well-known American internet brokerage has reported that it may launch a blockchain-based platform that allows European retail investors to trade US stocks.

It is reported that the platform's technology selection may be a certain L2 or a certain public chain, and the specific partners are still under discussion. This means that the brokerage may directly integrate L2 as the underlying layer for blockchain trading in the new platform, or develop a dedicated L2 chain based on the technology stack of a certain L2.

This news has sparked heated discussions in the market. If the brokerage really builds its own L2, it will benefit the on-chain settlement and specialized operation of the US stock tokenization business. The company will announce important news at the EthCC in Cannes, France, and outside speculation suggests that it may be related to the self-built L2 and the US stock tokenization business.

In fact, the broker has shown signs of planning. In January this year, the company's CEO criticized the current regulations in the United States for hindering the promotion of securities tokens. In March, he mentioned the difficulties overseas investors face when trading US stocks in a podcast, and stated that they are considering tokenization of securities.

From a technical perspective, EVM-compatible L2 solutions are crucial for large fintech companies to quickly go on-chain. The Optimistic Rollup technology of a certain L2 strikes a balance between transaction confirmation time and cost, making it more suitable for platforms that handle large-scale user transactions.

From a business perspective, the broker may avoid direct association with L2s that are closely linked to major competitors. Choosing custom chain options offered by other L2s allows the broker to distinguish itself from competitors' L2s. It is worth noting that this broker has previously had collaboration experience with a certain L2.

However, there are also opinions that this approach may simply be a mimicry of a certain trading platform's L2. This trading platform adopts an open strategy, inviting external developers to build DApps, thereby expanding the ecosystem and attracting users and assets. If this broker also builds a similar L2, the strategy may be highly similar.

There are analytical suggestions that the brokerage should amplify its advantages as an internet brokerage and take a "closed ecosystem" route: migrating all existing financial products, assets, and users onto the chain, allowing users to operate directly on the chain. This approach is more in line with the native concepts of cryptocurrency, but it also faces greater challenges.

Regardless, the broker's final choice may be revealed at the upcoming EthCC conference. This move not only concerns the company's own development but could also have profound implications for the entire Ethereum ecosystem.