The New York Stock Exchange has partnered with Securitize to develop a tokenized securities trading platform that bypasses the Depository Trust & Clearing Corp., settling stocks directly on blockchain with 24/7 trading and instant settlement.
The Securitize Partnership
Securitize will become NYSE’s first digital transfer agent, creating shares for stocks and ETFs as digital tokens on a blockchain, The Wall Street Journal reported on Tuesday.
The two companies will design a digital transfer agent program, including standards for other transfer agents to issue and manage stocks as blockchain tokens in a compliant way.
Transfer agents keep records of investors, issue and cancel ownership certificates, facilitate dividend payments, and mail annual reports to shareholders.
Securitize expects its broker-dealer to connect with NYSE’s Digital Trading Platform, an alternative trading system for tokenized securities.
The 24/7 Trading Vision
NYSE which is owned by …