NYSE signs deal that could open tokenized stocks to 44 million accounts

NYSE and Blockchain.com announced a preliminary memorandum of understanding on Wednesday. The non-binding deal could let Blockchain.com's more than 44 million confirmed accounts trade tokenized U.S. stocks and ETFs through the NYSE's digital alternative trading system. The system is a regulated venue that is not a full stock exchange. Trading would begin only after regulators approve the venue. ICE Data Services plans to sell Blockchain.com's crypto market data to its clients. Blockchain.com plans to show live NYSE and ICE stock prices in its app. Blockchain.com CEO Peter Smith said people should not face limits on stock ownership because of where they live or because of their access to brokerage services and information. The NYSE first announced the venue in January. The venue would support trading around the clock. It would provide instant handover of shares and cash. It would support funding with stablecoins. It would allow purchases of partial shares. The NYSE said token holders would retain dividends and voting rights. Blockchain.com operates in more than 70 jurisdictions. NYSE Group President Lynn Martin called that international reach a natural complement to the platform. The SEC granted a five-year exemption for tokenized stocks a week before the deal. The exemption requires tokens to carry the same rights as ordinary shares. The exemption bars synthetic copies. Cantor Fitzgerald flagged 95% upside in Securitize this week. The Citi Institute forecasts a $5.5 trillion base case for tokenized assets by 2030. Neither company gave a launch date. Regulatory approval for the NYSE's digital venue is the next step.