Leon Li Returns with UMX: Crypto and Stocks “Tie the Knot” — The TradFi Moment Has Arrived, and the
Recently, UMX Exchange, incubated by Leon Li s (Li Lin) Avenir Group, officially launched its invitation-only public beta. Because of Leon Li ‘sidentity as the former founder of Huobi and UMX’s “Unified Market” vision, the platform attracted strong industry attention immediately after launch. Thirteen years ago, Leon Li founded Huobi at Garage Coffee. That was the era of crypto “land grabbing,” when the industrys mission was simple: make Bitcoin accessible to more people. It was straightforward and aggressive. Thirteen years later, the rules of the game have changed. Cryptos self-contained “small world” is coming to an end. It now wants a seat at the same table as U.S. stocks, ETFs, and other forms of “old money.” The reason is simple: the crypto island is gradually connecting with the traditional financial mainland. Bitcoin spot ETFs have been approved in the United States. Stablecoins have gained legislative recognition from major economies. Real-world assets (RWA) are bringing government bonds and stocks into the crypto ecosystem. The era when crypto-operates independently is fading, and a new continent is emerging at the intersection of digital assets and traditional finance. 2026 can be described as the “TradFi moment” for crypto exchanges. Crypto exchanges are collectively “transforming” or “expanding”: Binance, OKX, Gate, Coinbase, Kraken, and