From Bloomberg:
Microsoft Corp. agreed to buy a 4% stake in London Stock Exchange Group Plc in a $2.8 billion cloud-computing deal that pushes big tech further into financial markets.
We’re seeing the global, multi-continent, multi-national equivalent of South Korean chaebols being created before our eyes. These are true gigacorporations.
I also think it’s striking that because so many are listed in the USA, while investors around the world may use products by these tech giants, they don’t actually participate in the wealth created by them.
Being able to access the USA stock markets is going to become increasingly important over the next few years. At this point, the friction and costs associated with setting up a USA brokerage account and moving money cross-border into that account put it out of the reach of most people globally.
Given this, it does seem inevitable to me that tokenized stocks are a genie that can’t be put back into the bottle. For the average non-US investor, the essence is to get price exposure to these massively influential stocks, not necessarily to own them along with the associated voting rights. Synthetic stock tokens like those by Mirror have the potential to be attractive creators of wealth for non-Americans around the world.