A pretty good overview of the current systems used by exchanges such as FTX and Binance on how they provide Tokenized Stocks. It still feels very immature to me and like we are replicating the legacy systems in that the Token represents a claim on a stock as opposed to being the actual stock certificate itself. Of course these exchanges have to play but the regulation rules, but I am certain in the future we will see Tokenised Stocks that act as bearer instruments and eliminate counterparty risk. Whether that takes 12 month or 12 years to come into fruition I'm not sure, but knowing crypto it will be the shorter end of that.