- NYSE plans a 24/7 blockchain venue to trade tokenized stocks and ETFs
- NYSE is still under discussion with the SEC and has not received approval yet.
The New York Stock Exchange is developing a blockchain-based platform that allows tokenized stocks and ETFs to trade 24/7. This initiative is being led by the NYSE’s Parenting company, Intercontinental Exchange. The project needs to get approval from the U.S. Securities and Exchange Commission.
NYSE executives stated that the project is primarily designed to address the major issue affecting investors. Investors are expecting 24/7 trading and instant settlements similar to cryptocurrency trading. So, NYSE believes that blockchain infrastructure could support faster settlements and 24/7 trading. Other exchanges, like Nasdaq, have already approached regulators to allow the tokenized stocks on the exchanges. So NYSE doesn’t want to fall behind.
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