NYSE Builds 24/7 Blockchain Platform for Tokenized Stocks
The New York Stock Exchange is developing a blockchain-based trading platform that could enable round-the-clock trading and instant settlement of tokenized stocks and ETFs, pending regulatory approval.
The New York Stock Exchange (NYSE) is taking a significant step toward reshaping traditional capital markets by developing a 24/7 blockchain-powered trading platform designed for tokenized stocks and exchange-traded funds (ETFs). Announced jointly with its parent company, Intercontinental Exchange (ICE), the initiative reflects growing momentum to modernize market infrastructure as digital assets increasingly intersect with regulated financial markets.
If approved by regulators, the new platform would support continuous trading, real-time settlement, and stablecoin-based funding, marking a sharp departure from the long-established settlement and trading frameworks used in U.S. equity markets today.
A New Trading Venue for Tokenized Securities
According to the announcement, the proposed platform would combine NYSE’s Pillar matching engine—the core technology that underpins its existing equity markets—with blockchain-based post-trade infrastructure. This includes multi-chain support for both custody and settlement, allowing digital securities to be managed across different blockchain networks.
Subject to regulatory clearance, the system is intended to serve as the foundation for a new NYSE trading venue focused specifically on tokenized securities, including stocks and ETFs issued in digital form.
Under the proposed model, trades could be funded and settled instantly using stablecoins, rather than relying on the current one-day settlement cycle (T+1) that governs U.S. equities. This shift could significantly reduce counterparty risk, improve capital efficiency, and enable trading activity outside of traditional banking hours.
What Tokenized Stocks Bring to the Market
Tokenized stocks represent traditional equity shares that are issued or mirrored on a blockchain ledger. While they track the price of underlying public company shares, their blockchain-native structure introduces several potential advantages, including:
- 24/7 accessibility, enabling trading beyond standard exchange hours
- Fractional ownership, allowing investors to buy smaller portions of high-priced shares
- Faster settlement, reducing capital lockup and operational friction
By building a regulated platform for these assets, the NYSE is positioning itself at the center of a market segment that has so far been dominated by crypto-native platforms operating outside traditional exchange frameworks.
Expanding Trading Hours to Meet Global Demand
The move toward continuous trading builds on the NYSE’s broader effort to extend access to U.S. equities for global investors. The exchange has already signaled its intention to lengthen trading hours to 22 hours on weekdays, citing rising international demand for U.S.-listed securities.
In October 2024, the NYSE announced plans to file with the U.S. Securities and Exchange Commission (SEC) to support extended weekday trading. The new tokenized securities platform could represent a more technologically advanced pathway to achieving similar goals, while also enabling real-time settlement.
The push for longer trading hours is not unique to the NYSE. Nasdaq, the technology-focused exchange, also revealed plans to incorporate 24-hour weekday trading, underscoring an industry-wide reassessment of how and when markets should operate in an always-on global economy.
ICE’s Broader “Fully Onchain” Strategy
The tokenized securities initiative fits into ICE’s wider digital transformation strategy, which centers on building onchain market infrastructure capable of supporting trading, clearing, settlement, and custody in a 24/7 environment.
This includes investments in clearing infrastructure and the potential integration of tokenized collateral, allowing digital assets to be used more seamlessly across regulated financial systems.
ICE is also collaborating with major banks, including BNY and Citibank, to support tokenized deposits across its clearinghouses. The goal is to help market participants manage liquidity and margin requirements outside traditional banking hours, a key limitation of current financial plumbing.
ICE operates six clearinghouses worldwide, including the world’s largest clearinghouse for energy derivatives and credit default swaps—giving the firm substantial experience in managing systemic risk at scale.
Leadership Signals a Shift Toward Onchain Markets
NYSE leadership has framed the initiative as both an evolution of market structure and a continuation of the exchange’s historical role in financial innovation.
“For more than two centuries, the NYSE has transformed the way markets operate,” said Lynn Martin, president of NYSE Group. “We are leading the industry toward fully on-chain solutions, grounded in the unmatched protections and high regulatory standards that position us to marry trust with state-of-the-art technology.”
ICE executives have echoed that sentiment, emphasizing the strategic importance of tokenization to the firm’s long-term vision.
Michael Blaugrund, vice president of strategic initiatives at ICE, described support for tokenized securities as a “pivotal step” in the company’s strategy to operate “onchain market infrastructure for trading, settlement, custody, and capital formation in the new era of global finance.”
Traditional Finance and Crypto Converge
The NYSE initiative comes amid broader institutional engagement with digital assets. As reported earlier, Nasdaq and CME Group combined their crypto indexing efforts into a single institutional benchmark, reintroducing the Nasdaq Crypto Index as the Nasdaq-CME Crypto Index. The move reflects growing institutional demand for regulated, diversified exposure to crypto markets, even as major exchanges remain cautious about direct spot trading of digital assets.
At the same time, stablecoins are increasingly being integrated into mainstream financial workflows. Electronic brokerage giant Interactive Brokers recently introduced support for USDC-funded account deposits, with stablecoins automatically converted into U.S. dollars. The development highlights how digital dollars are beginning to reduce friction, costs, and settlement delays tied to traditional banking rails.
Together, these developments underscore a clear shift in market structure. Rather than being disrupted by blockchain technology, established financial institutions are absorbing crypto-native infrastructure into their core operations.
As regulatory clarity around tokenized securities and stablecoins continues to evolve, the NYSE’s proposed platform could become a blueprint for how traditional equity markets adapt to an always-on, blockchain-enabled financial system. If successful, it may redefine not only when markets trade, but how ownership, settlement, and trust are established in the next generation of global finance.
