NYSE Partners with Blockchain.com to Launch Tokenized US Stocks
The New York Stock Exchange (NYSE) has partnered with Blockchain.com to launch tokenized US stocks on its planned digital trading platform. The partnership will allow users of Blockchain.com to access and trade tokenized versions of NYSE-listed stocks and exchange-traded funds (ETFs). This move aims to expand the reach of NYSE's tokenized securities offerings beyond traditional market participants.
According to the agreement, NYSE's affiliate ICE Data Services will provide Blockchain.com with crypto market data and analytics. In return, Blockchain.com will supply certain market data feeds from its platform back to the NYSE ecosystem.
Rid Noch, a vice president at TD Securities, noted that the design of NYSE's planned tokenized ATS appears 'primarily like a play for retail flow.' He highlighted the features of 24/7 trading and request-for-quote functionality, which could be particularly meaningful for retail-heavy participants or during periods when news-driven price movements spill beyond traditional market hours.
The partnership comes shortly after the SEC introduced a five-year 'Innovation Exemption' for certain tokenized securities trading venues. The exemption requires that tokenized stocks carry the same rights and privileges as their conventional share counterparts, indicating that product design must align with rights parity expectations.