From matching digital money to tokenization of stocks, Gate is becoming the "on-chain asset hub".

In the past decade, cryptocurrency exchanges have been the main arena for digital asset trading. However, by 2025, this definition is quietly expanding. With the development of the market, the enhancement of user needs, and the further integration between traditional and blockchain finance, crypto platforms are undergoing a profound transformation—from “digital asset matching centers” to “multi-asset gateways.”

One of the most representative trends is the introduction of traditional financial assets into the on-chain ecosystem: such as tokenized stocks, on-chain bonds, and the gradual popularization of stablecoin interest rate markets. Investors are also gradually becoming dissatisfied with only trading in the coin circle but hope to achieve global asset allocation on the same platform and within the same encryption asset system.

Why stocks? Why at this point?

Stocks have always been a representative of high-quality assets globally, highly sought after for both technological growth and company quality. For many emerging market investors, direct investment in stocks remains inconvenient: traditional account opening procedures are complicated, trading time zones are often inconvenient, and it is difficult to directly use encryption assets for involvement.
At the same time, on-chain investors’ proficiency with stable assets such as USDT and ETH has significantly improved, and they are increasingly accustomed to decentralized, permissionless asset management methods. They do not wish to relearn complex processes or operate across channels; they simply want to invest in diversified assets with one click using their encryption wallets.
The demand for “direct on-chain investment in stocks, fractional shares, leverage, and 24/7 trading” is rapidly growing.

The user scale becomes a watershed for the platform’s leap: The significance of Gate surpassing 30 million registered users.

A larger user base provides fertile ground for product innovation. For example, Gate announced in June 2025 that the number of registered users on its platform exceeded 30 million, covering more than 200 regions. A large number of emerging market users provides the foundation and trust for testing innovative products.
The significance of user volume lies in:

• The platform can support large asset transactions in USDT without needing to introduce fiat currency;
• New users can smoothly transition without having to learn complex traditional financial processes, in a familiar experience;
• The community inherently possesses educational and viral promotion attributes, which is beneficial for the rapid popularization of new products.
  Compared to traditional financial platforms launching on-chain services, this path is undoubtedly more efficient and better suited for young users.

Who is Truly Advancing Asset Boundaries? Gate, Tokenized Stocks, and Product Innovation

Recently, the xStocks stock zone launched by Gate has attracted industry attention. Users can directly trade stock tokens for Apple, Tesla, and mainstream ETFs using USDT, supporting contract trading, leverage, fractional shares, and round-the-clock operations.
This means that users can trade specific stocks both long and short, conduct index hedging, and even engage in high-frequency T+0 operations in the early morning — all within the environment of encryption assets.
Gate has repeatedly explored the integration of on-chain and traditional assets, and this move is closer to a real, long-operating asset platform. Compared to the incomplete liquidity of DeFi protocols or other platforms’ short-term attempts, it has presented a complete product system.

Of course, other exchanges in the industry are also exploring asset boundaries, with product forms including on-chain wealth management, Web3 payments, AI assistants, and more. However, in terms of “one-stop multi-asset products,” Gate undoubtedly belongs to the camp of pioneers.

Repositioning an Industry: Exchanges Become “All-in-One Asset Platforms”

Today, mainstream encryption platforms are increasingly resembling “multi-asset integrated gateways”:

• Similar to banks: equipped with coin storage and wealth management, as well as regular investment functions;
• Similar to brokerage firms: able to trade mainstream digital assets and mainstream stock tokens;
• Similar to toolboxes: equipped with on-chain wallets, points systems, and data analysis tools;
• Similar to traffic gateways: supporting seamless interaction from Web2/3 and CeFi/DeFi.
  In this race, whoever can provide a richer array of assets and a broader user experience will have the opportunity to win the next wave of financial technology dividends. Gate has surpassed 30 million users, which is a clear industry signal: platforms with rich products, deep user bases, and global reach are preparing to expand into more “non-digital money” asset spaces.

Final Thoughts:

If the early exchanges were the “Digital Asset Taobao”, then the exchanges in 2025 are more akin to the “WeChat of diversified finance”, carrying complex financial capabilities such as asset migration, payment settlement, leverage strategies, and on-chain management.
Whoever upgrades first to a “multi-asset, full-function one-stop platform” may occupy the commanding heights in the new cycle. Gate is merely one of the active practitioners, reflecting the overall reshuffling of industry channels and business boundaries.