The New York Stock Exchange Group and Blockchain.com have signed a memorandum of understanding to offer tokenized U.S. stocks and ETFs through the NYSE's planned digital trading venue, which is designed to operate 24/7. The arrangement requires any necessary regulatory approvals, and the NYSE platform has not yet launched.
Tokenized stocks are blockchain-based tokens that represent shares of listed companies. Proponents argue they enable fractional ownership, trading outside traditional 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—a regulated marketplace operating outside a traditional exchange. The platform promises 24/7 trading and instant on-chain settlement.
Blockchain.com operates across more than 70 jurisdictions with more than 44 million confirmed accounts. The partnership gives the NYSE access to crypto-native investors, while Blockchain.com gains exposure to institutional stock trading through the NYSE platform.
Data Sharing Component
The deal includes a data-sharing arrangement. ICE Data Services, the data division of the NYSE's parent company, plans to distribute Blockchain.com's crypto market data to its subscribers. Blockchain.com will integrate certain NYSE and ICE feeds into its app.
The partnership aligns with recent regulatory developments. The SEC introduced an "innovation exemption" allowing qualifying venues to trade tokenized U.S. stocks on public blockchains without registering as exchanges. This followed the stalling of the Clarity Act, legislation that would have codified crypto-related regulatory clarifications into law.
Blockchain.com faces competition in the tokenized stocks space. Coinbase launched tokenized stocks on Base, its Ethereum layer-2 network, for non-U.S. users in August. Other crypto platforms are also preparing tokenized stock offerings for both U.S. and international users.
Neither company disclosed a launch date or financial terms for the partnership.
