New York Stock Exchange Plans Blockchain-Based Trading Platform
- The New York Stock Exchange, operated by Intercontinental Exchange (ICE), is developing a blockchain-based trading platform for tokenized securities.
- The platform will allow trading of traditional tokenized equities and native tokenized equities with instant settlement available all day, every day.
- Major banking institutions BNY and Citi are collaborating to assist in the tokenized deposit process and fund management across time zones.
- The launch of this platform is subject to regulatory approval, with no specific timeline provided yet.
The New York Stock Exchange aims to revolutionize market infrastructure by integrating blockchain technology into its trading systems for tokenized securities. This move aligns with the growing trend of tokenization in finance, as highlighted by industry leaders like BlackRock’s Larry Fink.
By partnering with banks like BNY and Citi, the exchange seeks to ensure seamless transactions beyond traditional banking hours, marking a significant shift towards a more flexible financial system. (Source)
