24X National Exchange Proposes SEC Rule Change for Tokenized Securities
- 24X National Exchange has filed a proposal with the SEC to allow tokenized trading of Russell 1000 stocks and certain ETFs.
- The proposal involves a DTC pilot program to test blockchain-based settlement without changing existing market infrastructure.
- Tokenized and traditional securities would trade on the same book, maintaining liquidity.
- Participants would use digital flags for tokenized settlements and provide wallet information where necessary.
This proposal by the exchange aims to integrate blockchain into regulated markets, allowing tokenization while preserving investor protections and auditability. The filing is not yet approved but indicates a shift towards blockchain in traditional finance.
If approved, this could define how mainstream securities are tokenized in the US, providing operational benefits without moving to offshore venues. It highlights the growing importance of real-world asset tokenization in regulated markets.
