The New York Stock Exchange (NYSE) has signed a memorandum of understanding (MoU) with tokenization platform Securitize to help develop blockchain-based stock trading infrastructure. Securitize will serve as the first digital transfer agent on the planned Digital Trading Platform operated by Intercontinental Exchange (ICE), enabling the minting of blockchain-based shares for stocks and exchange-traded funds (ETFs).
Under the MoU, the firms will create a digital transfer agent program and standards for digital transfer agents and tokenization agents, focusing on regulatory, operational and technological requirements for tokenized securities infrastructure. The effort builds on ICE’s January plan for a tokenized securities venue designed to enable 24/7 trading, instant settlement, stablecoin-based funding and on-chain settlement.
ICE says the venue will support both tokenized shares that are fungible with traditionally issued securities and securities issued natively as digital tokens, while preserving traditional shareholder dividends and governance rights. Tokenized stocks are traditional company shares minted on a blockchain ledger, offering investors around-the-clock access, fractional ownership and faster settlement.
The agreement is part of a broader push by major exchange operators to build blockchain trading and settlement infrastructure even as regulatory and market frameworks for tokenized public securities evolve. The move follows the U.S. Securities and Exchange Commission’s approval of Nasdaq’s pilot proposal to support trading of tokenized versions of high-volume stocks and securities.
“As we explore how tokenization can enhance capital markets, it is critical that new infrastructure is developed in a way that preserves the trust, transparency, and protections investors expect,” said Lynn Martin, president at NYSE Group.
Investor demand for tokenized stocks is growing: the total value of tokenized stocks surpassed $1 billion on March 10. Over the past 30 days, tokenized stockholders rose 16% to 193,140 and monthly transfer volume increased 45% to $2.5 billion, according to RWA.xyz. Tokenized stocks remain the sixth-largest segment of roughly $26 billion locked in tokenized real-world assets (RWAs); tokenized treasury debt leads with $11.8 billion, and tokenized commodities exceed $5 billion.
Crypto exchanges are also expanding tokenized stock offerings. Coinbase launched 24/7 stock perpetual futures for non-U.S. traders, offering cash-settled exposure to major U.S. stocks and indices. Binance and Kraken have similarly rolled out tokenized perpetual futures trading for non-U.S. traders, alongside other offshore platforms.
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