NYSE and Blockchain.com Partner for Tokenized Stock Trading
The New York Stock Exchange (NYSE) and Blockchain.com have signed a memorandum of understanding to list tokenized stocks. This partnership aims to enable users of Blockchain.com, which has tens of millions of subscribers, to trade and settle tokenized securities on-chain 24/7 if approved.
This move comes as Wall Street increasingly looks at Bitcoin and its related infrastructure. In fact, Intercontinental Exchange, the parent company of the NYSE, earlier this year invested in OKX, a crypto exchange. According to Blockchain.com's executive chairman and CEO Peter Smith, 'People shouldn't be limited in owning stocks based on where they happen to live or the brokerage and information they may or may not have access to.'
The NYSE has been building a platform that allows traders to buy and sell tokenized versions of U.S.-listed equities and exchange-traded funds, which can then be settled on the blockchain 24/7. This development is part of Wall Street's growing interest in tokenizing assets like stocks.
The U.S. Securities and Exchange Commission (SEC) recently approved tokenized stocks trading, which has accelerated adoption of tokenization across traditional finance and crypto. The partnership between NYSE and Blockchain.com could boost market liquidity and on-chain access to equities, as well as increase investment in digital assets.