🔥 BitDegree partnered with Ogvio - a free international money transfer service! Sign up now & grab Rewards! 🎁

NYSE to Launch 24/7 Blockchain Market for Tokenized Stocks

Key Takeaways

  • NYSE is creating a blockchain-powered platform for 24/7 trading of tokenized stocks and ETFs;
  • The system will use stablecoins for instant settlement and connect multiple blockchains for custody;
  • ICE’s wider plan includes digital clearing, tokenized collateral, and round-the-clock fund transfers.

Stop overpaying - start transferring money with Ogvio. Sign up, invite friends & grab Rewards now! 🎁

NYSE to Launch 24/7 Blockchain Market for Tokenized Stocks

The New York Stock Exchange (NYSE) is developing a new system that will allow people to trade digital versions of stocks and exchange-traded funds (ETFs) at any time.

The project uses blockchain technology to speed up trade processing and settlement.

The NYSE and its parent company, Intercontinental Exchange (ICE), announced that the platform will combine the exchange’s existing Pillar trading engine with blockchain-based systems for post-trade activity. It will also allow different blockchains to interact for custody and settlement.

What is Defi 2.0? (Explained with Animations)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

If approved by regulators, the new system will support a trading venue focused on tokenized securities, stocks and ETFs issued digitally on a blockchain.

This new platform fits into ICE’s plan to expand digital market infrastructure. The company is also developing systems for continuous clearing and exploring how tokenized assets could serve as collateral in the future.

To make trading outside regular banking hours easier, ICE is working with banks such as BNY and Citibank on tokenized deposit systems. These would allow funds to move securely between clearinghouses without relying on traditional banking schedules.

Lynn Martin, president of the NYSE Group, said, "For more than two centuries, the NYSE has transformed the way markets operate".

ICE currently operates six clearinghouses worldwide, including those for energy trades and credit default swaps.

Recently, the Hong Kong Securities & Futures Professionals Association (HKSFPA) asked the government to adjust parts of its plan to apply new global crypto reporting standards from the OECD. What did the agency say? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Loading...
binance
×
Verified

ZERO FEES

For Ogvio Money Transfers
Rating
5.0