Suddenly discovered that Gate has also launched their Gstocks page?! Previously, Gate stocks used a direct-to-broker approach. Now this Gstocks, I guess, is a tokenized stock model, but I haven't seen any official announcement yet.

If I understand correctly, Gate is now effectively walking on two legs.
The first leg is stocks directly connected to licensed brokers. Users trade real stocks, supporting dividends, stock splits, transfers, and other complete corporate actions, with an experience close to traditional brokers.
The second leg is GStocks tokenized stocks. On the basis of 1:1 pegging to the original stock, it introduces on-chain capabilities, such as proof of reserves (PoR), staking, lending, and other DeFi scenarios, packaging stocks into combinable on-chain assets.
These two solutions address compliance and asset authenticity, while one releases on-chain liquidity and financial innovation.
From SPCX's few legitimate IPOs for crypto people to the launch of US stocks, Hong Kong stocks, and Korean stocks, Gate's layout seems to be ahead of the industry. Personally, I think this solution is likely to become the mainstream model for securities on-chain in the future.