NYSE Partners With Blockchain.com to Tokenize US Shares
The New York Stock Exchange (NYSE) has partnered with Blockchain.com to explore tokenizing U.S. shares and ETFs for a global crypto audience.
The deal, announced on September 23, aims to distribute tokenized stocks through NYSE's digital alternative trading system (ATS), subject to regulatory approvals.
However, the agreement has raised questions about who will control ownership and trade in these tokenized shares. The SEC's exemption for tokenized securities requires issuers to provide notice of transfer and caps qualifying venues at 75 Tier 1 and 250 Tier 2 stock symbols.
The NYSE plans to link digital equities directly to underlying shares, preserving voting rights and dividends. However, the actual custody chain for each share is still unclear, as well as which customers will qualify and under what terms a token can be converted back into a conventional holding.