eToro Announces Plans to Tokenize 100 US Stocks, Plans to Transition to Ethereum

Trading platform eToro has announced plans to convert 100 U.S. stocks into Ethereum-based ERC-20 tokens.
On the 29th (local time), eToro announced plans to tokenize 100 US stocks, creating a "tokenized stock service that can be traded 24 hours a day, five days a week on the blockchain."
Through this plan, eToro will offer an Ethereum blockchain-based asset management service for the most popular US-listed stocks and ETFs on its platform.
and ultimately help users move these tokenized shares outside the eToro platform and leverage them in personal wallets or DeFi protocols.
An eToro representative said, "This is the 100% goal of this project." Users will be able to purchase tokenized shares on eToro and then trade them on eToro.
You can move them to your wallet, then move them back to your personal wallet, and then move them back to eToro if needed. Yoni Assia, CEO and co-founder of eToro, said:
Assia said, "Tokenization has the potential to be a core tool for financial democratization, eliminating financial boundaries, providing transparency and control, and making assets more easily accessible to more people."
eToro has been continuously involved in the tokenization of real assets (RWA), having implemented the tokenization of gold and silver in 2019.
The announcement comes as RWA tokenization has recently entered a period of significant growth. On June 30, Robinhood
Release of Arbitrum-based Layer 2 blockchain, enabling European investors to trade over 200 US stocks 24/5 without commissions
In addition, we have provided support to Backed, a Swiss company specializing in RWA.
Finance has recently seen a surge in blue chip and cryptocurrency investors such as Netflix, Meta, Tesla, Amazon, and Coinbase.
The company has tokenized shares related to the asset and listed them on the DeFi ecosystem based on ByBit, Kraken, and Solana. However, such "xStocks" are currently not available in the United States.
Tokenized shares are still a small part of the overall RWA market, but they have a lot of potential for growth. RWA Data Platform
According to RWA.xyz, the current value of tokenized shares on-chain is approximately $418 million, with the total RWA market size exceeding approximately $21.3 billion.