The New York Stock Exchange (NYSE) announced today, January 19, that it is developing a new platform for on-chain trading and settlement of tokenized U.S. stocks and exchange-traded funds (ETFs).
This project will enable 24/7 operation. A model inspired by the features of Bitcoin (BTC).
Regulatory approval is still required; We are considering instant payments and funding based on stablecoins.
The platform design combines the Pillar Matching Engine, the system used by the New York Stock Exchange to match buy and sell orders, and a post-trade solution based on distributed ledger technology, with the ability to operate on multiple networks for settlement and custody.
The platform will also enable trading of fungible tokenized stocks and traditionally issued securities, as well as natively issued assets in digital format.
Holders of these tokenized securities will retain customary economic rights, such as dividend collection and governance rights, in line with current market structure principles and with non-discriminatory access to licensed broker-dealers.
The launch is part of a broader digital strategy by Intercontinental Exchange (ICE), the global market operator and owner of the New York Stock Exchange, which includes Clearing infrastructure for 24/7 operations and ultimately integrate tokenized collateral.
Within this framework, the company will collaborate with banks such as BNY and Citi to support tokenized deposits, facilitate fund management outside of traditional banking hours, and optimize margin compliance and funding needs in various jurisdictions.
“For more than two centuries, the New York Stock Exchange has transformed the way markets work,” said Lynn Martin, president of NYSE Group.
In that sense, he pointed out that this initiative promises to combine the regulatory power of traditional markets. Equipped with cutting-edge technology to adapt to an increasingly digital financial environment.
Traditional financial markets are thus starting to adopt continuous operation schemes inspired by BTC’s 24/7 operation.
However, it is worth making clear that this is not a solo effort. As reported by CriptoNoticias, the U.S. Securities and Exchange Commission (SEC) is evaluating the presentation of the Nicholas Bitcoin and Treasury After Dark ETF, a fund that seeks to capture overnight BTC movements. If traditional stock exchanges remain closed.