NYSE signs Blockchain.com for tokenised stocks
The memorandum aims to give Blockchain.com's 44 million accounts access to tokenised US stocks and ETFs on a planned NYSE digital platform.
The deal
NYSE Group, owner of the New York Stock Exchange, and crypto platform Blockchain.com signed a memorandum of understanding on September 23. The plan is for Blockchain.com users to reach tokenised versions of US-listed stocks and ETFs through a digital alternative trading system NYSE plans to launch. The two are also exploring round-the-clock trading.
Who it reaches
Blockchain.com operates in more than 70 jurisdictions and has 44 million verified accounts. A tokenised stock is a blockchain-based asset that represents a listed share. Backers point to fractional ownership, trading outside market hours and faster settlement. Blockchain.com CEO Peter Smith said the link would open these assets to tens of millions of users, and NYSE Group President Lynn Martin said the exchange supports the push to bring customer trading onto the blockchain.
Not live yet
The trading service needs regulatory approval and has not launched. The part that can start sooner is data: ICE Data Services will distribute Blockchain.com's crypto market data to its subscribers, and Blockchain.com will add certain ICE and NYSE data feeds to its app. The move follows Coinbase's filing for 24/7 stock perpetuals.