BiyaPay analyst: Kraken will launch tokenized US stocks for non-US customers. What is the difference between this and BiyaPay's USDT trading US stocks?

On May 26, the recent cryptocurrency trading platform Kraken announced plans to allow non-US clients to trade popular stocks such as Apple, Tesla, and Nvidia in the form of tokens on a digital ledger. This new product, called "tokenized stocks," aims to simplify the process of investing in US stocks for non-US individuals. These tokenized stocks will operate like Bitcoin, allowing 24/7 trading even when the US stock market is closed. This feature provides a significant advantage for international investors who wish to trade outside traditional US stock market hours. Kraken stated that the launch of these tokenized stocks will begin in the coming weeks, initially targeting customers in Europe, Latin America, Africa, and Asia. However, Kraken's US customers will not be able to trade these tokenized stocks. Essentially, Kraken is launching a service that digitizes stocks of popular companies, enabling them to be traded as tokens on its cryptocurrency trading platform. This move represents a significant step in integrating traditional financial markets with digital currencies, providing a new platform for international investors to access US stocks. Unlike Kraken's tokenized US stocks, BiyaPay offers a more direct USDT stock trading service: using the stablecoin USDT to exchange one-to-one with USD to buy and sell real stocks, providing a fully compliant securities trading channel, supporting a more diversified US and Hong Kong stock portfolio, and offering fiat currency deposit and withdrawal services in US dollars, Hong Kong dollars, and euros. Kraken has expanded US stock trading hours, while BiyaPay's USDT trading solution avoids price deviation risks in the tokenization process, ensuring investors directly hold the underlying stocks. Both models collectively drive innovation in the convergence of cryptocurrencies and traditional finance.