The New York Stock Exchange, a subsidiary of Intercontinental Exchange, Inc. (NYSE:ICE), said on Monday it is developing a platform for the trade and on-chain settlement of tokenized securities.
A Game Changer?
The exchange said in a press release that it would seek regulatory approval for the new digital platform. This platform aims to boost tokenized trading experiences by offering 24/7 operations of U.S.-listed stocks and exchange-traded funds, instant settlement, fractional share trading and stablecoin-based funding.
The proposed platform will include support for “multiple chains” for settlement and custody. Tokenized shareholders will have the opportunity to participate in traditional shareholder dividends and governance rights.
“We are leading the industry toward fully on-chain solutions, grounded in the unmatched protections and high regulatory standards that position us to marry trust with state-of-the-art technology, said Lynn Martin, President, NYSE Group.
‘Access To Best Companies For World Citizens’
Galaxy Digital Inc. (NASDAQ: GLXY) CEO Mike Novogratz said tokenizing equities is an “amazing tool” to promote U.S. brands and excellence to the rest of the world.
“Access to the best companies for the world’s citizens. That is why …