The New York Stock Exchange (NYSE) is preparing to roll out a tokenized securities platform that will unlock 24/7 trading and stablecoin-based funding.
The platform, which is still subject to regulatory approval, would also enable instant settlement and orders sized in dollar amounts.
The project will power a new NYSE venue that aims to offer trading for tokenized shares of traditionally issued securities, in addition to tokens natively issued as digital securities.
NYSE Group President Lynn Martin says in an announcement that the stock exchange wants to continue a tradition of transforming “the way markets operate.”
“We are leading the industry toward fully on-chain solutions, grounded in the unmatched protections and high regulatory standards that position us to marry trust with state-of-the-art technology. Harnessing our expertise to reinvent market infrastructure is how we’ll meet and shape the demands of a digital future.
NYSE’s parent company, Intercontinental Exchange (ICE), is preparing for the potential integration of tokenized collateral, according to the announcement. The financial services firm is working with banking giants BNY and Citi to support tokenized deposits across ICE’s clearinghouses.
NYSE’s new venture follows in the footsteps of its competitor, the Nasdaq Stock Market, which filed with the Securities and Exchange Commission (SEC) in December to extend its equities trading hours to 23 hours a day, five days a week.
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