Tokenised stocks in 2026 are where stablecoins were in 2018. I was around for that one. Within a few days USDC, Gemini and Paxos all launched, going after Tether. It felt inevitable the world would want a dollar that was global, programmable and onchain. The only question was who'd win the market. What I didn't appreciate at the time was how long it would take. Eight years on, stablecoins are only now becoming real financial infrastructure, moving trillions a year. Tokenised stocks feel very similar. Access is the obvious bit, a lot of people can't easily buy US equities today. But the bigger thing, exactly like with stablecoins, is what you can do with them once they're onchain. Borrow against your Nvidia, lend it out, use it as collateral, earn yield, trade it 24/7, compose it with everything else. That composability is as inevitable as it was for the dollar. Stablecoins took longer than I expected. But tokenised equities might actually move faster than people think, because this time most of the infrastructure already exists. Eight years ago a lot of things still had to be built. Now the UX, the onramps, the DEXs and the stablecoins themselves are already here to plug into.