ICE Teams Up with Tzero on 24/7 Tokenized Stock Trading
ICE, owner of the New York Stock Exchange (NYSE), has partnered with Tzero to develop the infrastructure for its planned Digital Trading Platform. This platform will enable 24/7 trading and instant settlement, among other features.
The partnership is significant as it involves Tzero becoming a premier design partner for digital transfer-agent and broker-dealer infrastructure on ICE's platform. As part of this deal, ICE is also investing in Tzero and licensing its blockchain patent portfolio, although the financial terms have not been disclosed.
Tzero will help shape the standards governing how digital transfer agents, tokenization agents, and broker-dealers interact with the platform. This includes recording ownership, blocking transfers when securities laws demand it, processing corporate actions, and settling trades onchain.
ICE has also acquired 103 Tzero patents as part of this deal, which cover various aspects of blockchain technology such as compliance-controlled transfers, upgradeable smart contracts, and systems connecting broker-dealer identities with blockchain wallets.