The New York Stock Exchange has signed a memorandum of understanding with tokenization specialist Securitize to help build blockchain-based trading infrastructure. Under the agreement, Securitize will act as the first digital transfer agent for the Digital Trading Platform being developed by Intercontinental Exchange (ICE), enabling the minting of blockchain-based shares for stocks and ETFs.
The two firms will collaborate to design a digital transfer agent program and common standards for digital transfer agents and tokenization agents. Their work will cover regulatory, operational and technology requirements needed to support tokenized securities, and ties into ICE’s earlier plan for a tokenized-securities venue offering 24/7 trading, instant settlement, stablecoin-based funding and on-chain settlement.
ICE says the planned venue will accommodate both tokenized shares that are fungible with traditionally issued securities and securities issued natively on-chain, while maintaining existing shareholder dividend and governance rights. Tokenized stocks are effectively traditional company shares represented on a blockchain ledger, which can provide investors round-the-clock access, fractional ownership and faster settlement.
The partnership is part of a broader push by major exchange operators to develop trading and settlement systems for tokenized public securities even as regulatory frameworks continue to evolve. The move follows the U.S. Securities and Exchange Commission’s approval of Nasdaq’s pilot to begin trading tokenized versions of high-volume stocks and securities.
Lynn Martin, president of NYSE Group, emphasized that tokenization efforts must preserve investor trust, transparency and protections as new infrastructure is created.
Demand for tokenized stocks has been rising: their total market value topped $1 billion on March 10. Over the prior 30 days, the number of tokenized-stock holders increased 16% to 193,140, and monthly transfer volume rose 45% to $2.5 billion, per data from RWA.xyz. Tokenized stocks are the sixth-largest segment of roughly $26 billion locked in tokenized real-world assets, with tokenized treasury debt leading at $11.8 billion and tokenized commodities exceeding $5 billion.
Crypto exchanges are also expanding related products. Coinbase introduced 24/7 stock perpetual futures for non-U.S. traders that provide cash-settled exposure to major U.S. stocks and indices, and Binance and Kraken have launched similar tokenized perpetuals for offshore users.
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