ICE Bolsters Tokenized Securities Push with tZERO Deal
The Intercontinental Exchange (ICE) has taken a significant step towards launching its NYSE-affiliated tokenized-securities platform by investing in tZERO's latest financing round and licensing the company's blockchain patent portfolio.
As part of the agreement, ICE will collaborate with tZERO on infrastructure development for the proposed platform, which is expected to support the trading of tokenized stocks. The companies have not disclosed the financial terms of the investment or license.
tZERO will also become an approved digital transfer agent and a platform subscriber, pending regulatory, technology, and operational requirements being met.
The memorandum of understanding between ICE and tZERO covers various aspects, including platform design, financing, and patent licensing. Additionally, the companies will evaluate whether tZERO's tokenized assets can be used as collateral at ICE clearing houses and affiliates.