NYSE and Blockchain.com partner to offer tokenized U.S. equities, challenging existing crypto exchanges with 24/7 trading and instant settlement capabilities.
NYSE's partnership with Blockchain.com expands ICE's reach into crypto-native investors and tokenized assets.
Blockchain.com gains access to NYSE's planned digital trading venue to offer tokenized stocks to its users.
Coinbase faces increased competition in tokenized stocks from the NYSE and Blockchain.com partnership.
Intercontinental Exchange's NYSE has signed a memorandum of understanding with Blockchain.com to offer tokenized U.S. stocks and ETFs. The partnership aims to leverage a planned digital alternative trading system to provide 24/7 market access and instant settlement. While the platform awaits regulatory approval, the deal signals a major push by traditional finance to capture crypto-native investors.
Tokenized stocks are blockchain-based digital assets that represent shares of publicly listed companies, allowing for fractional ownership and faster settlement.
The firms have not disclosed a specific launch date, as the project remains subject to regulatory approvals.