Blockchain.com, NYSE Sign Tokenized Stocks MOU

Blockchain.com and NYSE Group signed a memorandum of understanding on Sept. 23 to explore giving Blockchain.com users access to tokenized U.S.-listed stocks and ETFs through NYSE’s planned digital trading platform. The proposed link could extend the exchange’s reach to Blockchain.com’s more than 44 million confirmed accounts, according to the company announcement.

How would Blockchain.com users reach NYSE’s tokenized securities?

The agreement outlines a distribution plan for Blockchain.com users to access tokenized equities and ETFs on NYSE’s planned digital alternative trading system, or ATS. The companies said access would be subject to any required regulatory approvals.

The service is not live. It depends on the launch of the ATS, and the companies have not said when it could begin or which stocks and ETFs might be offered, The Block reported.

NYSE announced the digital platform in January. The Block reported that the planned venue is designed for 24-hour trading, fractional shares, stablecoin funding and immediate onchain settlement, subject to regulatory approval. NYSE has said token holders would retain rights such as dividends and voting.

What else does the agreement cover?

The MOU also provides for market data to move between the companies. ICE Data Services, an affiliate of NYSE’s parent Intercontinental Exchange, plans to distribute Blockchain.com’s crypto market data and analytics to its subscribing clients, according to the announcement.

Blockchain.com plans to add certain ICE and NYSE exchange data feeds to its app, giving its more than 44 million confirmed accounts access to real-time stock information. The company said some of that data would also appear through June, its AI assistant.

The Block reported that the deal’s financial terms were not disclosed. The companies also did not specify which markets or users would be eligible for the proposed service.

What is the next step before trading can begin?

NYSE must launch its planned digital ATS, and any required regulatory approvals must be secured before the proposed access can go live. Neither company announced a launch date in its Sept. 23 statement.

Blockchain.com already offers tokenized U.S. stocks and ETFs outside the United States through a separate partnership with Ondo Finance, The Block reported. The NYSE agreement would connect users to securities on NYSE’s own planned platform; the next milestone is whether that venue launches and receives the necessary approvals.