NYSE Taps Blockchain.com to Reach Crypto Investors With Tokenized Stocks

In brief

• Blockchain.com signed a memorandum of understanding with NYSE Group to offer tokenized U.S. stocks and ETFs through the NYSE's planned 24/7 digital trading venue.
• The deal also includes data sharing, with ICE distributing Blockchain.com's crypto data and Blockchain.com adding NYSE feeds to its app.
• The NYSE platform isn't live yet, the plan needs any required regulatory approvals, and neither firm disclosed a launch date or terms.

Crypto exchange Blockchain.com wants to bring Wall Street to its app and keep it open around the clock.

The company signed a memorandum of understanding with NYSE Group to offer its users tokenized U.S. stocks and ETFs through the New York Stock Exchange's planned digital trading venue, the firms said Wednesday. The arrangement is subject to any required regulatory approvals, and the NYSE platform has yet to launch.

Tokenized stocks are blockchain-based tokens representing shares of listed companies. Backers say they enable fractional ownership, trading outside market hours and faster settlement.

The NYSE, owned by Intercontinental Exchange, announced in January that it is building the venue as a digital alternative trading system, or ATS. An ATS is a regulated marketplace that operates outside a traditional exchange, and this one promises 24/7 trading and instant on-chain settlement.