Bitget Joins Coinbase and Kraken in Tokenized Stocks Race as “Universal Exchange” Era Accelerates

Key Highlights

• Bitget is expanding into tokenized stocks alongside Coinbase and Kraken
• Exchanges are competing to offer 24/7 trading of traditional equities on-chain
• Partnerships with firms like Ondo Finance are driving access to tokenized U.S. stocks
• Some platforms have already surpassed significant early trading volumes in tokenized equities
• The “universal exchange” model combines crypto, stocks, and real-world assets in one platform
• Analysts say this could reshape how global markets access and trade equities

Bitget has entered the growing competition among major crypto exchanges to dominate tokenized stock trading, joining firms like Coinbase and Kraken in what is increasingly being described as the race toward a “universal exchange” model. The trend reflects a broader push to merge traditional financial markets with blockchain-based infrastructure.

At the center of this shift is the rapid rise of tokenized equities, where real-world stocks are represented as blockchain-based assets that can be traded around the clock. These products are designed to mirror the price of underlying shares while enabling 24/7 access, fractional ownership, and global participation without traditional brokerage barriers.

Bitget’s expansion into this area has been supported through partnerships with tokenization platforms such as Ondo Finance, allowing users to gain exposure to a growing range of U.S. equities and ETFs in tokenized form. Early traction in the sector has been strong, with some platforms reporting significant trading volumes within months of launch, signaling rising demand for blockchain-based access to traditional markets.

Coinbase and Kraken have also accelerated their own tokenization strategies. Kraken, in particular, has focused on structured tokenized equity products backed by real shares held through regulated entities, while Coinbase continues building infrastructure aimed at broader tokenized asset integration. Across the industry, exchanges are increasingly positioning themselves as all-in-one platforms for digital and traditional assets.

The idea of a “universal exchange” has emerged as a key narrative behind this competition. In this model, users would be able to trade cryptocurrencies, stocks, commodities, and other financial instruments within a single blockchain-connected ecosystem. Supporters argue this could eliminate many of the inefficiencies associated with traditional financial systems, such as limited trading hours, high intermediary costs, and slow settlement processes.

One of the biggest appeals of tokenized stocks is 24/7 accessibility. Unlike traditional equity markets that close on weekends and holidays, blockchain-based markets operate continuously. This allows traders to react instantly to global events, macroeconomic news, and geopolitical developments without waiting for market reopenings.

However, analysts also note that tokenized stocks are not always identical to traditional equities. In many cases, they do not provide full shareholder rights such as voting power or direct ownership. Instead, they often represent economic exposure to the underlying asset, depending on how each platform structures its products.

Regulatory uncertainty remains another major factor shaping the sector. While momentum is building globally, U.S. regulators are still working through frameworks that define how tokenized securities should be classified, traded, and supervised. This has led many platforms to initially focus on non-U.S. users while awaiting clearer domestic guidance.

Despite these challenges, the competitive pressure among exchanges is clearly intensifying. Platforms are racing to attract users with broader asset offerings, lower fees, and integrated trading ecosystems that combine both crypto-native and traditional financial products.

Industry observers say this competition could ultimately reshape the structure of global capital markets. If tokenized equities continue to grow, exchanges may evolve from crypto trading venues into full-scale financial infrastructure hubs, bridging the gap between decentralized finance and traditional Wall Street systems.

For now, Bitget’s entry into tokenized stocks signals that the race is no longer limited to early adopters. It is becoming a core strategic direction for major exchanges worldwide, all moving toward a future where financial markets are accessible anytime, anywhere, through a unified digital platform.