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      Blockchain.com Inks Deal to Offer Access to NYSE Tokenized Stocks

      Blockchain.com users may get access to tokenized U.S. exchange-listed equities and exchange-traded funds on the NYSE’s upcoming digital alternative trading system (ATS), the companies said in a Wednesday (Sept. 23) press release.

      That capability is outlined in a memorandum of understanding signed by Blockchain.com, a provider of crypto services for retail and institutional users, and NYSE Group, operator of the New York Stock Exchange, according to the release.

      The distribution plan is subject to regulatory approvals, the release said.

      The memorandum of understanding also includes bidirectional market data distribution, with NYSE affiliate ICE Data Services planning to distribute Blockchain.com’s crypto market data and analytics to its subscribing clients, and Blockchain.com planning to incorporate certain ICE and NYSE exchange data feeds into its app, per the release.

      Blockchain.com operates in more than 70 jurisdictions and supports 44 million confirmed accounts, according to the release.

      Peter Smith, executive chairman, CEO and co-founder of Blockchain.com, said in the release that people should have greater access to stock ownership and that tokenized stocks are a catalyst for greater economic freedom.

      “Connecting to the NYSE digital ATS will enable us to extend the opportunity to invest in these digital assets to tens of millions of Blockchain.com users around the world,” Smith said.

      NYSE Group President Lynn Martin said in the release that the company aims to unite the trust of traditional finance with the accessibility of digital assets.

      “Blockchain.com’s international footprint and digital asset expertise make it a natural complement to our tokenized securities platform upon launch,” Martin said. “We look forward to furthering their efforts to bring customers’ trading activity onto the blockchain and giving them more data and choice in how they participate in the digital financial ecosystem.”

      The NYSE announced in January that it was developing a platform for the trading and on-chain settlement of tokenized securities and that it would seek regulatory approvals for the initiative.

      In March, the NYSE said it teamed with Securitize to build its tokenized securities trading platform. NYSE named Securitize the first digital transfer agent eligible to mint blockchain-native securities for corporate or exchange-traded fund issuers on the platform.


      Source: PYMNTS.com
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