Xiao Feng: Tokenization and 24/7 Trading Will Reshape the Financial Center Landscape

In his closing speech at the 12th Global Blockchain Summit, Xiao Feng, Chairman of Wanxiang Blockchain, pointed out that the CFTC Chairman has clearly stated that large-scale tokenization, on-chain finance, and 24/7 trading will have a significant impact on the U.S. financial system in the next decade, surpassing changes seen in the past several decades. Xiao believes that the simultaneous advancement of the funding side, such as central bank digital currencies, stablecoins, and bank deposit tokenization, along with the asset side, including tokenization of bonds, funds, and derivatives, is forming a self-contained on-chain financial market system. The financial center that first promotes large-scale tokenization of financial assets and achieves 24/7 trading will gradually become the center for global asset issuance, trading, and settlement through mechanisms such as liquidity siphoning, capital siphoning, asset issuance migration, and concentration of pricing power, creating a new financial landscape of "one superpower and many strong players." He emphasized that the combination of tokenized funds and tokenized assets, along with 24/7 trading, aims to prepare for AI-driven machine trading, and the capital market needs to be reformed in advance to adapt to this trend. Xiao warned that financial centers that do not accept tokenization, blockchain, and 24/7 trading will face the risk of marginalization, and countries should promote the integration of off-chain and on-chain financial systems and actively participate in the construction of the new financial system.

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