Wall Street and crypto are crashing into each other as tokenized treasury markets hit $14.6 billion
Not all crypto exchange executives agree, but the data does not lie: centralized exchange trading volumes dropped more than 11% to $4.61 trillion, their lowest since late 2024.
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Summary
- Major crypto exchanges like OKX, Kraken and Hyperliquid are rapidly adding perpetual futures and tokenized markets for stocks, commodities and index funds to keep traders and capital on their platforms.
- Executives say this shift reflects a broader convergence between crypto and traditional finance, as users seek 24/7 access to a wider range of assets and tokenized real-world assets surge in value.
- The expansion into synthetic and tokenized equities brings significant regulatory, settlement and liquidity risks, making long-term success dependent on strong compliance, security and investor protections.
