What’s happening with institutions, payments, and stablecoins will happen to markets and trading next. Fundamentally, blockchains are decentralized ledgers that make the accounting for all sorts of financial interactions more efficient. Payments are one example. Borrow and lending is another. It’s our belief that trading onchain will be viewed in the same way to which stablecoin adoption is rapidly proliferating in the next 1-2 years. In the same way that trading accelerated after the major exchanges digitized (and the units of trading got smaller), the markets that will form by tokenizing assets and trading them on blockchains will rapidly overtake these legacy trading systems (which are really legacy accounting systems). The complexity of building off-chain legacy payments systems mirrors the complexity of building off-chain trading engines (especially when considering upgrades to introduce 24/7 markets). At one point, the market will realize that tokenizing and moving all markets to decentralized CLOBs will become more efficient than creating hybrid solutions to maintain legacy tech. Everything that can become a token, will become a token. Every market that can exist, will exist. And the only way to handle this at scale is to put the trading logic, from matching to execution, entirely onchain, to be able to handle both the demand and supply side of what a truly global market looks like (without biases from counter parties affecting liquidity or prices). This belief in a more efficient market informs our entire organization’s decision making logic, from tech stack, to product, to marketing and distribution. If Tether, Circle, and Stripe are now synonymous with stablecoins, GTE will be synonymous with trading. Global Token Exchange. GTE.