NYSE Group partners with Blockchain.com on tokenized stocks

Blockchain.com signed a memorandum of understanding with NYSE Group to offer tokenized U.S. stocks and ETFs through the NYSE's planned digital trading venue. The agreement requires any necessary regulatory approvals. The venue has not launched. Neither company disclosed a launch date or financial terms. The planned venue is a digital alternative trading system that promises trading 24 hours a day, 7 days a week. The venue also promises instant on-chain settlement. Intercontinental Exchange owns the NYSE. Blockchain.com says it has more than 44 million confirmed accounts across more than 70 jurisdictions. Blockchain.com CEO and co-founder Peter Smith said people should not face limits on stock ownership based on where they live or on their access to brokerages and information. ICE Data Services plans to distribute Blockchain.com's crypto market data to its subscribers. Blockchain.com will add certain NYSE and ICE feeds to its app. Last week, the SEC unveiled an innovation exemption for qualifying venues that trade tokenized U.S. stocks on public blockchains without registering as exchanges. The Clarity Act would have codified this and other crypto-related activity into law. The legislation stalled in the Senate. Blockchain.com confidentially filed for a U.S. IPO in May. Coinbase launched tokenized stocks on Base for non-U.S. users in August. Other crypto venues are racing to launch tokenized stock offerings for U.S. and non-U.S. users.