The New York Stock Exchange and Blockchain.com have agreed to a memorandum of understanding that would enable the crypto platform's users to trade tokenized securities on the exchange's upcoming digital trading venue. According to a Wednesday announcement, the deal is pending regulatory approval and aims to open tokenized U.S. stocks and exchange-traded funds to millions of crypto investors.
This move follows other major exchanges entering the tokenized asset space, where digital versions of stocks can potentially trade 24/7, settle on a blockchain, and allow fractional ownership. Peter Smith, CEO of Blockchain.com, called tokenized stocks a key driver for economic freedom and one of the most significant developments in modern finance. The London- and Dallas-based firm has already launched tokenized stock offerings in Europe but has not released data on how many customers have bought them.
The agreement includes a data-sharing component. ICE Data Services, a division of NYSE parent Intercontinental Exchange, will distribute Blockchain.com's crypto analytics to its own clients. Conversely, Blockchain.com intends to integrate specific NYSE and ICE data streams into its application, which serves over 44 million verified accounts.
The partnership aligns with broader institutional interest in tokenization. Citi projects the tokenized asset market could total $5.5 trillion by 2030. However, regulatory and structural differences remain; unlike traditional shares, blockchain-based stock tokens often do not grant holders the same shareholder rights. The U.S. Securities and Exchange Commission recently introduced a five-year exemption permitting certain platforms to offer tokenized securities without adhering to all rules that govern traditional exchanges.