The New York Stock Exchange (NYSE) is developing a platform to trade and settle tokenized stocks, though the initiative requires regulatory approval before launching. Additionally, parent company Intercontinental Exchange (ICE) is working with BNY and Citi to support tokenized deposits at its clearinghouses, marking new banking partnerships beyond its earlier collaboration with stablecoin issuer Circle.
The move follows Nasdaq’s September application to the SEC for permission to support tokenized stocks. Nasdaq’s approach involves trading via its current main stock exchange, with dealers choosing whether they want stocks in tokenized or conventional form at the post trade level. By contrast, NYSE plans to launch a separate venue for tokenized securities. In December the DTC received approval from the SEC, and will be able to support many trading venues when it launches in the second half of 2026, although the NYSE did not mention the DTC in its announcement.
The new venue will handle both tokenized versions of traditionally issued securities and natively digital securities. Tokenized shareholders will receive the same dividend and governance rights as conventional stockholders, with access available to all qualified broker dealers.
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