[Bitop Review] NYSE Announces Plans for New Blockchain Platform, Targeting 24/7 Tokenized Securities Market

The New York Stock Exchange (NYSE) has announced plans to launch a brand-new blockchain trading platform later this year. This platform will enable investors to trade tokenized stocks and Exchange Traded Funds (ETFs) around the clock. Currently pending approval from the U.S. Securities and Exchange Commission (SEC), the platform, once approved, will mark a major revolution for the mainstream U.S. securities market as it moves toward 24-hour operations.

NYSE Responds to High Global Demand for 24-Hour Trading, Offering Instant USD Settlement

According to a press release from the NYSE and its parent company, Intercontinental Exchange (ICE), the new platform will be built on a private blockchain network. It will combine the NYSE's existing matching technology to provide instant settlement, U.S. dollar-denominated ordering, and stablecoin-based financing mechanisms. This design aims to address the demand from global investors for cross-time zone, real-time trading and settlement, specifically catering to expectations for market participation during weekends and non-traditional trading hours.

The new platform will utilize a private blockchain network to achieve instant settlement, U.S. dollar-denominated orders, and stablecoin-based financing, while preserving traditional shareholder rights such as dividends and corporate governance. The platform will support not only tokenized shares that are interchangeable with existing listed stocks but also the trading of natively issued digital security tokens. Even though securities exist in tokenized form, investors will still enjoy traditional shareholder rights, including dividend distribution and corporate governance voting rights, ensuring that tokenization does not dilute investor equity.

ICE VP: Tokenized Securities Are a Key Milestone in Financial Evolution

Michael Blaugrund, Vice President of Strategic Planning at ICE, stated that supporting Tokenized Securities is a key milestone in ICE's digitization of the global financial system. He noted that ICE aims to build on-chain market infrastructure across trading, settlement, custody, and capital formation, enabling financial markets to adapt to new technologies and shifts in investment behavior. A key feature of the platform is instant settlement. Traditional stock trading typically requires longer settlement times, whereas blockchain technology can significantly shorten the process, reduce counterparty risk, and improve capital efficiency. ICE stated that through the combination of stablecoins and tokenized deposits, market participants will be able to manage funds and margins outside of banking hours.

ICE Partners with BNY and Citi to Advance Tokenized Deposits and Clearing Services

To support the development of 24/7 trading, ICE is also collaborating with several major financial institutions, including Bank of New York Mellon (BNY) and Citibank (Citi), to jointly promote Tokenized Deposits and 24-hour clearing services. These collaborations will assist clearing members in managing funds more flexibly across different jurisdictions and time zones, further strengthening global market connectivity.

Lynn Martin, President of the NYSE Group, stated that the NYSE has been evolving market operations for over two hundred years and is now leading the industry toward more comprehensive on-chain solutions. She emphasized that the NYSE will reshape market infrastructure by combining cutting-edge technologies like blockchain under high regulatory and safety standards to respond to the demands of the digital finance era.

Competitive pressure on traditional exchanges is rising. The NYSE's main U.S. competitor, Nasdaq, announced plans last year to provide near-24/7 trading services for stocks and exchange-traded products, in response to the globalization of investor behavior and the 24/7 nature of the crypto asset market.

If the NYSE's tokenized securities platform successfully obtains regulatory approval, it could reshape investors' existing perceptions of stock market trading hours and settlement efficiency. It may also attract more young and international investors accustomed to the crypto asset market into the traditional securities market. However, the attitude of regulatory bodies remains a critical variable before the platform officially goes live. ICE stated that it has submitted relevant application documents to regulators and will continue to communicate with them, hoping to officially launch this 24/7 blockchain trading platform within this year, opening a new operational model for global capital markets.