Stablecoins enable buying real US equities in Web3

BIT Brokerage executive Elio Cui set out a blueprint for Web3’s next growth phase at the BEYOND Expo 2026 in Macau on May 29, arguing that compliant access to real-world assets via stablecoins will be central to reaching a $10 trillion market valuation.

Direct-access model links stablecoins to U.S. equities

Speaking on the “Web3: How to Reach a $10 Trillion Market Cap?” roundtable, Cui detailed BIT’s direct-access brokerage model, which lets users buy U.S. equities using stablecoins.

Unlike tokenized products that only track stock prices, BIT’s framework uses instantaneous stablecoin transfers to acquire the underlying shares through a licensed brokerage structure. Under this model, clients hold actual stock positions rather than synthetic exposure.

BIT operates with a financial services license in Bhutan and works with regulated clearing partners in the United States. Currency conversion and settlement are structured to comply with local financial rules, aiming to ensure secure purchase and custody of equities.

Institutions seen as key to Web3’s next leg of growth

Cui said Web3’s path to a $10 trillion valuation depends on enabling institutions to allocate capital through fully compliant channels. He pointed to the evolution of Bitcoin-related exchange-traded products as evidence that what once looked unrealistic has become mainstream.

He noted that inflows from pension and sovereign funds into Bitcoin products in recent years have altered market perceptions compared with a decade ago, even as those flows remain sensitive to macroeconomic conditions.

However, institutions still face structural barriers when combining traditional and digital portfolios. Separate custody and settlement systems limit capital efficiency and complicate unified risk management. According to Cui, only firms with deep compliance capabilities and mature infrastructure can currently bridge both systems effectively.

Stablecoins and RWAs viewed as primary growth engines

Cui argued that stablecoins and tokenized real-world assets (RWAs) could expand the digital asset market from about $4 trillion toward the $10 trillion range.

Stablecoins, he said, now function as a capital bridge between traditional finance and Web3, simplifying cross-border transfers and enabling seamless entry into digital asset markets. RWA-linked equities, particularly in the AI sector, are seen as a way to broaden access to scarce, yield-bearing stock assets via on-chain infrastructure.

He stressed that, despite both approaches relying on stablecoins for settlement, they rest on different foundations. Direct brokerage involves ownership of real shares and associated shareholder rights, including voting and entitlements. By contrast, most RWA-based equity instruments only provide exposure to price movements, without transferring legal ownership of the underlying securities.

Cui framed productive, income-generating assets as a more effective hedge against inflation and volatility than holding idle cash, and said long-term value creation must come from real economic activity backed by transparent technology.

Data shows shift from crypto-only markets to U.S. equities

Internal BIT transaction data cited by Cui suggests that individual traders are increasingly using stablecoins to purchase U.S. stocks rather than remaining in crypto-only markets. This tilt toward equity exposure signals a shift in wealth focus from purely digital assets to traditional, regulated instruments accessed via Web3 rails.

At the same time, he noted that the growth of these channels does not eliminate risk. Market cycles, macro conditions and changing regulation still shape capital flows in and out of digital products.

Market context: stablecoin supply and tokenization surge

Cui’s remarks come as the bridge between traditional finance and Web3 reaches new scale.

Global stablecoin market capitalization hit a record high of more than $320 billion in 2026, creating a large pool of capital that can move quickly across borders. This expansion is occurring alongside clearer legal frameworks, including Europe’s MiCA regulation and ongoing rule-making in the United States, which are helping to cement stablecoins’ role in payments and corporate treasury operations.

Capital is also flowing into tokenized real-world assets. The RWA sector grew by around 66% in the first months of 2026 to more than $23.6 billion in value. A large share of that growth is concentrated in tokenized U.S. government securities. Products offered by traditional financial firms such as BlackRock have drawn billions of dollars, signaling a preference for established, yield-generating instruments.

Spot trading volumes for tokenized stocks alone surpassed $15 billion in the first quarter of 2026, highlighting the rapid expansion of price-exposure products that sit alongside, but are distinct from, direct share ownership.

Two main channels for equity exposure via Web3

Traders seeking exposure to traditional equities through digital infrastructure now face two primary avenues:

• Direct brokerage models, such as the one outlined by BIT, which use stablecoins for funding and settlement but deliver actual share ownership and shareholder rights; and RWA-based and tokenized stock products, which allow on-chain trading of price exposure without conferring direct legal ownership of the underlying securities.

The coexistence of these channels underscores a broader debate over whether Web3’s long-term growth will be led by fully regulated, ownership-based models or by more flexible, synthetic products tied to traditional markets.

Institutional flows remain sensitive to macro conditions

While institutional participation in digital assets has increased, recent data shows it is still highly reactive to macroeconomic trends.

U.S. spot Bitcoin exchange-traded funds recorded net outflows of more than $2.4 billion in May 2026, reversing earlier strong inflows and marking the largest monthly outflow since November 2025. Analysts have linked this reversal to rising inflation readings and shifting expectations for central bank interest rate cuts, illustrating how quickly institutional capital can exit.

Cui suggested that for Web3 to sustain a multi-trillion-dollar valuation, capital must be anchored in products with clear rules, transparency and robust legal protections, reducing the likelihood of abrupt swings driven purely by sentiment.

Regulatory environment tightening but clarifying

The regulatory backdrop is moving toward greater clarity even as enforcement remains strict.

The U.S. Securities and Exchange Commission recently released a draft strategic plan for 2026–2030 that lists the creation of predictable rules for digital assets as a core objective. At the same time, the U.S. Treasury’s sanctions on several major Iranian cryptocurrency exchanges on June 2 underscored the risks of operating outside licensed and compliant channels.

Product approvals continue to require close negotiation between issuers and regulators. Asset managers such as Fidelity have amended S-1 filings for proposed Ether-based ETFs to strip out staking features, a change widely seen as a concession to regulatory concerns. Future market direction is likely to hinge on capital flows into existing regulated vehicles and on incremental wording changes in new product filings.

BIT’s footprint and financial profile

BIT, founded in 2019 and headquartered in Singapore, has built a multi-jurisdictional presence as it aims to sit at the intersection of regulated finance and digital assets.

The group operates in seven jurisdictions and holds licenses in Singapore, Hong Kong, Switzerland, the United States, the United Kingdom and Bhutan. It manages more than $6 billion in assets, reports monthly trading volumes above $7 billion and has paid out over $2 billion in client interest.

BIT’s corporate valuation exceeds $1 billion, placing it on the 2024 Global Unicorn Index and the 2025 Singapore Fintech Unicorn Index. The company says it will continue to focus on integrating compliant financial infrastructure with digital-asset networks to support broader global participation.

Web3’s path forward

Cui’s comments in Macau frame Web3’s next growth phase as less about speculative digital-only markets and more about regulated bridges that connect real-world assets, stablecoins and on-chain infrastructure.

With stablecoin supply at record highs, RWA tokenization accelerating and regulators gradually clarifying their stance, the competition between direct ownership models and synthetic exposure products is likely to shape how, and how quickly, Web3 approaches the $10 trillion mark.