Tokenization and 24/7 Trading Could Reshape Global Finance
At the 12th Wanxiang Blockchain Global Summit in Shanghai, HashKey Group Chairman and CEO Xiao Feng said asset tokenization, on-chain finance, stablecoins and 24/7 trading could transform the US financial system more in the next decade than it changed over the past several decades.
His comments followed remarks by the US Commodity Futures Trading Commission chairman at a US Treasury market conference. Xiao argued that blockchain-based settlement can enable “trade and settlement at the same time”, allowing tokenized securities and digital money to trade continuously. Nasdaq’s planned 23-hour, five-day trading schedule from 6 December was cited as an early step, but full 24/7 trading would require tokenized settlement currencies, including stablecoins or tokenized bank deposits.
Xiao said tokenization is developing on both sides of the market. Funds, bonds and derivatives are being tokenized, while USDT, USDC, central bank digital currencies and tokenized deposits represent the digitisation of money. Together, these developments could create a self-contained on-chain financial system.
He warned that a financial centre adopting large-scale tokenization and 24/7 trading first could attract global liquidity, capital, asset issuance and pricing power. The shift could also make international investment easier through stablecoin-based settlement. Xiao linked the US push to the potential need to finance up to $10 trillion in AI infrastructure over the next five to 10 years.
For crypto traders, the outlook is structurally positive for stablecoins, tokenized real-world assets and blockchain settlement infrastructure. However, the speech describes a long-term market transformation rather than an immediate trading catalyst. Regulatory, custody, liquidity and cross-border risks remain significant.
Neutral
The market impact is neutral because the article presents a strategic industry outlook rather than a new product launch, regulatory approval or capital-flow event. The long-term narrative is constructive: broader asset tokenization, stablecoin settlement and 24/7 markets could increase blockchain adoption, transaction volumes and demand for tokenized real-world assets. Similar announcements around institutional tokenization and stablecoin payment infrastructure have historically supported sector narratives, but have not always produced sustained short-term price gains.
In the short term, traders may focus on stablecoin supply, adoption metrics, exchange liquidity and regulatory signals. Positive headlines could benefit infrastructure tokens and projects linked to tokenized assets, while speculative flows may lift major crypto assets such as BTC. However, the absence of a concrete implementation timetable, combined with legal, custody, settlement and market-fragmentation risks, limits the immediate bullish effect.
Over the long term, successful 24/7 settlement could improve market access and reduce settlement friction. It could also concentrate liquidity and pricing power in the largest compliant financial centres and platforms. That creates opportunities for blockchain networks and stablecoin issuers, but also raises systemic and regulatory risks. Overall, the implications are significant but gradual, supporting a neutral classification for immediate trading conditions.